Tata Consultancy Services (TCS) reported a YoY rise of 17% in consolidated net profit of Q1 to Rs 11,074 crore. However, consolidated revenue increased nearly 13%, marginally lower than the estimated Rs 59,500 crore. Motilal Oswal and Nuvama retained their Buy recommendation on the IT major, while Nomura maintained a Reduce rating.
TCS shares price fell nearly 2% to Rs 3,184 on Thursday after the IT giant’s net profit in the fourth quarter missed market estimates. The company s Q4FY23 net profit came in at Rs 11,392 crore, up 5% from the previous quarter. Watch this Business Today Visual Story to check brokerage calls on TCS shares and whether to buy, hold or sell TCS stock.