Industry

TCS Q2 net profit up 1.8% to ₹8,042 crore, announces special dividend

TCS office in Sholinganallur. File

TCS office in Sholinganallur. File   | Photo Credit: Shaju John

Tata Consultancy Services had posted a net profit of ₹7,901 crore in the year-ago period, the company said in a BSE filing.

Country’s largest IT services firm Tata Consultancy Services (TCS) on October 10 reported 1.8% rise in consolidated net profit at ₹8,042 crore for the quarter ended September 30, 2019.

It had posted a net profit of ₹7,901 crore in the year-ago period, TCS said in a BSE filing.

Revenue of the Mumbai-based firm grew 5.8% to ₹38,977 crore in the July-September quarter compared with ₹36,854 crore in the same quarter of the previous fiscal, it added.

TCS, whose results kick-off the earnings season for tech companies, also said its Board has declared a second interim dividend of ₹5 and a special dividend of ₹40 per equity share of Rupee 1 each of the company.

“We ended the quarter with steady growth despite increased volatility in the financial services and retail verticals. We remain confident as the medium and longer term demand for our services continues to be very strong, as evidenced by our Q2 order book — the highest in the last six quarters,” TCS CEO and Managing Director Rajesh Gopinathan said.

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Printable version | Jun 2, 2020 10:13:01 PM | https://www.thehindu.com/business/Industry/tcs-q2-net-profit-up-18-to-8042-crore-announces-special-dividend/article29644164.ece

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