Shares of Tata Consultancy climbed 2.2% to Rs 3,915 per share on the BSE during Friday’s intraday trading.
The boost came after the company launched TCS AI WisdomNext, a platform that consolidates various generative artificial intelligence (GenAI) services into a single interface. This platform allows organizations to swiftly implement next-generation technologies at scale, reduce expenses, and meet regulatory standards.
TCS stated in an exchange filing on Friday that the platform, a first of its kind in the country, will help customers overcome obstacles in developing and launching business solutions. It enables real-time experimentation across vendor, internal, and open-source LLM models.
“TCS AI WisdomNext helps our customers take advantage of GenAI to unlock the full potential of their data, drive greater business innovation and efficiency, and gain a competitive edge. We are solving business problems and helping our customers redefine what it means to harness the power of GenAI,” said Siva Ganesan, Head, AI.Cloud Unit, TCS.
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TCS reported a net profit of Rs 12,434 crore, a 9.1% year-on-year increase. Sequentially, profit after tax rose 6% from Rs 11,735 crore. Revenue for the quarter increased 3.5% year-on-year to Rs 61,237 crore and 1% sequentially.
In the fourth quarter of FY24, TCS achieved one of its highest total contract values (TCV) at $13.2 billion. For the full fiscal year, the order book reached a record $42.7 billion.
At 12:14 AM, TCS shares were up 1.29% at Rs 3901.80 per share on the BSE, while the BSE Sensex climbed 1.83%. The stock trades at a price-to-earnings ratio of 31.82, with an earnings per share of Rs 120.39.