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TCS falls nearly 2% during Thursday's trade following weak Q4 results

Shares of Tata Consultancy Services Ltd (TCS) fell nearly 2% on Thursday's trade after the IT major's Q4FY23 earnings missed the street expectations. 

TCS reported 0.6% quarter-on-quarter (QoQ) revenue growth in CC terms in a seasonally weak quarter.


North America market grew only +9.6% year-on-year (YoY) while the UK and Continental Europe reported growth of +17, +8.4% YoY, respectively.


The firm declared a final dividend of 24 per share for the fourth quarter of FY23, with a total payout of 115 per share for the year.


Rajesh Gopinathan, chief executive officer & managing director in a press conference on Wednesday said that the fourth quarter's results were "definitely weaker-than anticipated."


Weakness in US BFSI and continued challenges in European countries brings in a muted outlook for the medium term.


According to Mintgenie poll, 42 analysts have recommended 'hold' rating for the stock.


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Rajesh Gopinathan, chief executive officer & managing director in a press conference on Wednesday said that the fourth quarter's results were ‘definitely weaker-than anticipated.’

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TCS falls nearly 2% during Thursday's trade following weak Q4 results

Rajesh Gopinathan, chief executive officer & managing director in a press conference on Wednesday said that the fourth quarter's results were ‘definitely weaker-than anticipated.’

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