TCS is down in the red, following its Q4FY21 earnings, which were very much in line with expectations. Well, because it was as per expectations, there was profit booking as there is now a growing perception that the stock is fully priced with very little upside, since it has already penciled in all the positives.

The stock opened in the red at Rs.3230 from its close of Rs.3241.45 and then went down to hit an intraday low at Rs.3090.75, going down over 4.5%.

The IT major ended the quarter with a 6% (QoQ) growth in consolidated net profit at Rs.9246 crore on a 4% rise in revenue at Rs.43,705 crore.

Revenue in dollar terms was up 5% at $5,989 million v/s 5.1% growth in Q3. In constant currency, growth in revenue was 4.2% v/s 4.1% (QoQ).

EBIT was up 5% at Rs.11,734 crore and EBIT margins rose 25 bps to 26.85%.

But the best part about its performance was the order book at $9.2 billion for Q4 – the highest ever recorded for any quarter. In Q3 it was at $6.8 billion. Its FY21 total order book stands at $32 billion.

The company has also declared a final dividend of Rs.15/share in Q4.