TCS the Tata group company and lasrgerst IT exporter’s shares fell by over 2 % despite the company reporting a higher-than- expected 73 % growth in its March quarter net profit.The share, which opened on a positive note, failed to grip on to the momentum and lost 2.16 % to Rs 2,467.70 on BSE.

On NSE, it went down 2.12 % to Rs 2,466.10.

Govind Agarwal, the Research Analyst-Institutional Equities Prabhudas Lilladher has said, "TCS Q4 2015-16 revenues were largely in line with estimates while margins were below expectations,"

On Monday, TCS, the biggest IT exporter reported a higher than expected 72.7 % growth in March quarter net profit at Rs.6,413 crore and and guided towards a powerful 2016-17, saying a majority of its worries are behind now.

TCS had posted a post-tax profit of Rs 3,713 crore in the year-ago period, pulled down by Rs 2,628 -crore employee bonus.

N Chandrasekaran(Managing Director and Chief Executive) has said,"We believe that all these (difficult) markets are better than the curve we had in the earlier quarter. I think 2016-17 should be a good year... we can tell you that it would be a strong year,"

Industry body Nasscom expects software exports to increase at a slower clip of 10-12 % in 2016-17. For 2015-16, its bottom line grew 22.4 % to Rs 24,292 crore while the top line jumped 14.8 % to Rs 1.08 trillion, crossing the trillion-rupee mark for the first time.

Amid the reporting quarter, TCS posted a 17.5 % hike in credit to Rs 28,449 crore under the I-Gaap accounting, although on a sequential basis, it was up at a milder 4 % .