MUMBAI: Shares of Tata Consultancy Services Ltd (TCS) jumped nearly 8% in early deals on Friday despite reporting a dip in its January-March net profit.
The company though reported a robust order book -- its largest ever-- during the quarter. At 12:30 pm, the stock traded at ₹1812.90, up 5.7% from its previous close, while the benchmark Sensex was up 1.7%.
The BSE IT index was also higher at 1.98%. The software behemoth reported a net profit of ₹8,093 crore for the quarter ended March, down 0.8% sequentially and missing analyst estimates.
Revenue also missed analyst estimates but rose 5.1% year-on-year to ₹39,946 crore. Analysts had expected TCS to report revenues of ₹40,317.3 crore and a net profit of ₹8,159 crore in the reporting