Indian IT companies have announced their Q4 financial results during this coronavirus pandemic. Indian IT companies provide services to clients globally. While some of them have got good numbers, others have reported losses.
Let’s check how India’s top IT companies performed in Q4
1) Tata Consultancy Services
India’s biggest IT Company, TCS has reported a fall of 0.94 percent on year-on-year basis on profit for the fourth quarter. The profit lowered to Rs. 8049 crore while the consolidated revenue has gone up by 5 percent to Rs. 39,946 crore on a yearly basis.
The company has also declared a final dividend of Rs. 6.
How did the market react to Q4 results?
The share price of TCS jumped 7.94 percent to Rs.1851.85 on the BSE post the announcement of Q4 earnings. It was the top gainer on the BSE index- Sensex.
It was a top gainer on the 30 share BSE index- Sensex.
The management said that the pandemic completely reversed the positive momentum that they had started seeing in the first half of the quarter.
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