Mumbai: Shares of India’s largest software services provider, Tata Consultancy Services Ltd, on Friday fell as much as 2.8% after the company reported lower-than-expected June quarter earningsThe stock touched a low of Rs2,376.10 in intraday trade. More From Livemint »TCS reported a 240 basis points (bps) fall in its margins. Operating profit was about 4% lower than analysts’ estimates. This was the 11th consecutive quarter when the company has either under-performed or at best managed to match analysts estimates, Mint reported. HDFC Securities has lowered its earning estimates (-1.8/-1.5% for FY18/19E) on margin moderation (-40 bps) and factored revenue growth of 8.3/8.6% and earnings before interest and tax (Ebit) at 24.9/25% for FY18/19E.

Source: Mint July 14, 2017 04:52 UTC