"IT stocks may open lower tomorrow, and TCS may see a knee-jerk reaction," Gaurang Shah of BNP Paribas told ET Now.
Tata Consultancy Services (TCS), the country's largest IT services exporter, on Thursday reported Profit After Tax (PAT) of Rs 5,773 crore, up 7.7% YoY and 8.4% QoQ. This profit is excluding the adjustment of a one-time bonus that TCS announced earlier in the day.
Revenue for the fourth quarter was reported at Rs 24219.8 crore, up 12.4% YoY. In dollar terms the revenue came in at $3900 million.
Ahead of the results, shares in TCS closed the day at Rs 2585.20, down 1.50% on the Bombay Stock Exchange. They hit an intraday high of Rs 2634.90 and a low of Rs 2567.80 in trade on Thursday.
In a move that will bring cheer to its employees, TCS on Thursday said that it will give a one time special bonus to its staff to mark the 10th anniversary of its listing.
"Globally all employees who have completed at least one year of service will be eligible for the special bonus payment. Each employee will be given a reward equivalent to one week's salary for every year of service completed at TCS," the company's press release said.
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