IT shares resume downtrend as Geometric reports hugely disappointing results

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    Shares in IT companies resumed their downtrend as Geometric Software results reported hugely disappointing results.

    IT shares resume downtrend as Geometric reports hugely disappointing results
    Infosys: Quotes, News
    BSE 674.25BSE Quote6.45 (0.96%)
    NSE 674.50NSE Quote5.3 (0.79%)
    Tata Consultancy Services: Quotes, News
    BSE 1998.35BSE Quote23.45 (1.17%)
    NSE 2000.00NSE Quote24.2 (1.21%)
    The stock of Infosys fell 1.25 per cent, TCS was down 1.8 per cent. The stock of Geometric fell a huge 10 per cent after reporting poor results.

    The company reported a net profit of just Rs 3.3 crore, as against Rs 16.3 crores in the last quarter.

    Financial performance of IT companies have lagged estimates this year with majors like TCS, Infosys, Wipro and HCL Tech reporting lower margins and muted revenue growth.

     Stocks like TCS and Infosys have lost heavy ground in the last few trading sessions.

    Read more about: tcs infosys hcl tech software
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