TCS Q4 Results: IT major stock to open in green tomorrow over robust earnings

livemint.com:

TCS share price: Q4 results 2024 beat market estimates. Is this a share to buy on Monday — April 15? “Investors are now looking to Infosys' upcoming results on April 18 to gauge the IT sector's recovery status. Technically, TCS stock is trading between 3900 and 4025, and a breakout above 4025 could drive the stock towards 4200 and 4250.

A strong support level is seen at 3900 post-positive results," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. The company disclosed a consolidated net profit of ₹12,434 crore for the fourth quarter of the fiscal year 2023-24, marking a 9 percent increase from the ₹11,392 crore reported in the corresponding period of the previous financial year. Its revenue from operations rose by 3.5 percent year-on-year to ₹61,237 crore.

“TCS reported Q4 results that exceeded market expectations, with a focus on strong order inflow. Operating profit (EBIT) growth slightly surpassed forecasts, but revenue growth remained flat compared to the previous quarter. Despite concerns about a challenging environment, TCS outperformed IT peers following Accenture's guidance downgrade.

While there were weaknesses in revenue from the BFSI segment and North America region, TCS' overall performance aligned with expectations, especially with a record-high order book for Q4FY24," Tapse added. Also read: TCS Q4 result: Revenue up 4%, profit rises 9% YoY; top 5 highlights from March quarter scorecard Analysts are expecting an uptick in the IT major stock. “The quarter completes one year for the new management and the continuity and benefits from that are now bound to show in the coming quarter extending the operational improvements that we have already seen.