In the report, TCS Group reported that its net profit for the half increased eightfold. The parent company, Tinkoff Bank, managed to earn 36.6 billion rubles. The results beat analysts’ expectations, but TCS Group shares were unaffected by the company’s success.
The net profit of the TCS Group in the first half of 2023 increased 8.2 times and amounted to 36.6 billion rubles. This is stated in the company’s financial report under international financial reporting standards.
Parent company Tinkoff Bank’s quarterly profit grew 26% year-on-year to 20.4 billion rubles.
The results of the TCS Group exceeded the expectations of the analysts. Notably, broker BCS predicted 11% year-over-year quarterly earnings growth for TCS Group. The experts highlighted the return of the company to high levels of return on capital, in particular thanks to the growth of the loan portfolio.
The shares of TCS Group on the Moscow Stock Exchange did not react in any way to the successful financial results of the company. Based on current data at the time of this publication, TCS Group securities are increasing in price by 0.1%.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
