New Delhi: Shares of Tata Consultancy Services (TCS) fell more than 6% in early trading on Monday, following the company’s second-quarter (Q2) results for the current financial year 2021-22 (FY22). The share price is Rs. At least 3,660.
As at 10:41 am, TCS shares were down 5.52% or Rs 217.35. Traded at 3,717.95. On the NSE platform, the stock fell 5.58% or Rs 219.75 to Rs. Was 3,715.90.
TCS’s market capitalization (M-Cap) fell to Rs 13,72,126 crore from Rs 14,55,687 crore on Friday.
The country’s largest information technology exporter was the first among colleagues to report revenue in the second quarter.
The Mumbai-based company’s consolidated net profit rose to Rs 9,624 crore ($ 1.28 billion) in the three months to September 30 from Rs 7,475 crore in the year-ago period.
The combined revenue of the operations was Rs. 46,867 crore.
The company has reappointed Rajesh Gopinath as its CEO and Managing Director for five years.
TCS also announced an interim dividend of Rs 7 per share with a registration date of October 19, 2021.
The IT service major’s reduction rate in the second quarter was 11.9%.
The company added 19,690 people (net), increasing its number to 5,28,748 by the end of September 2021.
Meanwhile, both the BSE and NSE indices traded in green.