TCS received several share price target hikes from brokerages. (Photo: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Tata Consultancy Services Ltd. shares fell during early trade on Friday, after its second-quarter financial results. The management highlighted that clients remain cautious, leading to tight discretionary budgets and project delays.

Consolidated net profit dropped of 5.4% sequentially to Rs 12,075 crore, due to exceptional restructuring expenses. Revenue from operations rose 3.7% to Rs 65,799 crore.

On the operating front, the core profitability or EBIT (earnings before interest and taxes) of the IT major rose 7% to Rs 16,565 crore compared to Rs 15,514 crore on a sequential basis. EBIT margin expanded 25.2%.

Total contract value (TCV)

See Full Page