TCS shares fall over 3% on disappointing Q4 outlook
Mumbai: Shares of Tata Consultancy Services (TCS) fell over 3 per cent in morning trade today after the country’s largest software services firm said it expects revenues in January-March 2015 quarter to be in line with trends in the same period last year.
The stock was down 3.13 per cent to Rs 2,611.80 on the BSE.
At the NSE, it slipped 3.2 per cent to Rs 2,610.
TCS had on Thursday said it expects revenues in January-March 2015 quarter to be in line with trends in the same period last year even as currency continues to remain volatile.
“Q4 revenue is expected to be in line with the Q4 trends of last year’s (trends),” TCS Chief Financial Officer Rajesh Gopinathan had said in an investor concall.
The firm had registered a year-on-year growth of 31.2 per cent in revenues at Rs 21,551 crore in the fourth quarter of 2013-14, while on sequential basis, it was higher by 1.2 per cent.
Gopinathan had said that the company is witnessing volatility in currency, which could impact the revenues.
“Currency, we are likely to see a lot of volatility. We are likely to see a currency impact of almost negative 275 basis points, (constant currency to rupee revenue) and negative 200 bps (constant currency to USD revenues),” he said.