TCS shares rise after June quarter profit and revenue gains
Business
TCS shares got a boost on Friday, closing up 1.04% at ₹2,069.05 after the company reported solid June quarter results.
Net profit rose 4.61% to ₹13,349 crore and revenue climbed nearly 14% to ₹72,275 crore, definitely a strong showing for India's biggest IT firm.
TCS annualized AI revenue $2.6 billion
TCS's annualized AI revenue hit $2.6 billion this quarter (up 13.6%), showing how fast tech is moving.
The upbeat earnings also lifted other major IT stocks like Infosys and Wipro, with the BSE IT index finishing 2.01% higher for the day.
Despite some recent client delays, CEO K Krithivasan sounded hopeful about bouncing back next quarter thanks to pent-up demand and tech projects in the pipeline.