Shares of IT major TCS rose over 3 per cent today following a 49 per cent jump in net profit for the July-September quarter, which gave an optimistic growth outlook.

After a bullish opening, the stock jumped 3 per cent to Rs 1,330 on the BSE. On the NSE, the scrip climbed 3.2 per cent to Rs 1,331.

The stock was the top performer among the 30-Sensex blue-chip scrips in the morning trade, where the BSE benchmark index was trading at 18,696.74, up 14.43 points.

“TCS reported yet another set of healthy quarterly results, outperforming the street’s as well as our expectations on the revenue as well as the profit front,” Angel Broking said in a report.

TCS had on Friday reported 49 per cent jump in September quarter net profit at Rs 3,434 crore. The company had posted a net profit of Rs 2,301 crore in the same quarter of the previous fiscal (2011-12).

Revenues rose 34.3 per cent to Rs 15,621 crore in the reporting quarter compared with Rs 11,633.49 crore in the year-ago period.

Even though its operating margins dipped 0.38 per cent to 26.7 per cent as per the Indian GAAP, TCS Chief Executive and Managing Director N. Chandrasekaran exuded confidence that it will remain around 27 per cent for this fiscal.

Without divulging a set target, he had said the revenue will outpace the projections of 11-14 per cent given by Nasscom this financial year.

Related Topics