TCS Shares Slip Ahead Of June Quarter Earnings

Tata Consultancy Services (TCS) shares fell more than 1 per cent on Thursday amid high volumes, ahead of the IT major's announcement of financial results for the quarter ended June 30. On the BSE, TCS shares fell as much as 1.25 per cent to hit the Rs 2,191.05 apiece mark at the weakest level of the day. The company is scheduled to report its earnings later in the day after market hours. The country's largest IT company saw as many as 1.09 lakh shares change hands on the BSE compared with an average of 2.87 lakh shares traded daily in the past two weeks.

For the quarter ended March 31, Tata Consultancy Services had reported a net profit of Rs 8,049 crore, marking a  decline of 0.85 per cent compared to the previous quarter. For the quarter ended December 31, Tata Consultancy Services had reported a profit of Rs 8,118 crore.

Tata Consultancy Services' revenue rose to Rs 39,946 crore in the fourth quarter of 2019-20, up 0.20 per cent compared to Rs 39,854 crore in the previous quarter.

At 3:12 pm, TCS shares traded 0.67 per cent lower at Rs 2,202 apiece on the BSE, underperforming the benchmark S&P BSE Sensex index which was up 1 per cent.