How stock markets will react to TCS earnings on Thursday?
In Q4FY23, TCS posted a consolidated net profit of ₹11,392 crore, up by 14.76% compared to a profit of ₹9,926 crore in Q4 of the previous fiscal. While consolidated revenue of ₹59,162 crore, rising by 16.94% from ₹50,591 crore in Q4 of the previous fiscal.
Tata Consultancy Services (TCS) announced its Q4 results after market hours on Wednesday. Ahead of the quarterly earnings report, both Sensex and Nifty 50 extended their gains for eight consecutive days. IT stocks rallied with broad-based buying across the basket. However, TCS missed Street's expectations in Q4 despite posting double-digit year-on-year growth in revenue and PAT.
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