NEW DELHI: TCS shares rose nearly 6 per cent on Friday following the company's announcement of an 11.95 per cent increase in net profit to Rs 12,380 crore for the December quarter. The stock closed at Rs 4,265.55 on the BSE after reaching a high of Rs 4,296.80. On the NSE, it settled at Rs 4,265 per share.
Additionally, its market value increased by Rs 82,818.03 crore, reaching Rs 15,43,313.32 crore.
The IT sector showed strength with Tech Mahindra, Infosys, HCL Tech, and Wipro all posting gains. The BSE IT index rose by 2.65 per cent, while the BSE Sensex fell by 241.30 points to 77,378.91 and the NSE Nifty declined by 95 points to 23,431.50.
The company's revenue increased by 5.6 per cent to Rs 63,973 crore compared to Rs 60,583 crore in the previous year, though slightly lower than the September quarter's Rs 64,259 crore. New orders reached $10.2 billion, up from $7.9 billion year-on-year.
Meanwhile, CEO K Krithivasan said that while macro challenges persisted, the diverse nature of new orders across sectors and regions provides confidence in long-term growth prospects. He indicated that discretionary spending, which had been subdued, shows signs of improvement and predicted that 2025 would outperform 2024.
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