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TCS Q2 profit inches up 2% YoY to Rs 8,042 crore, firm announces Rs 45 as dividend

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IT major Tata Consultancy Services (TCS) on Thursday reported 1.80 per cent year-on-year (YoY) rise in consolidated profit at Rs 8,042 crore for the quarter ended September 30.

Analysts in an ET NOW poll had projected a net of Rs 8,304 crore. Revenue of the IT major increased 5.80 per cent to Rs 38,977 crore on a yearly basis. Commenting on Q2 performance, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “We ended the quarter with a 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.” The company also announced a total dividend of Rs 45 per share, including Rs 40 as special dividend.

TCS has set October 18 as record date and October 24 as payment date for the same. Operating income of the company came in at Rs 9,361 crore, down 4.20 per cent from last year.

Earnings per share increased to Rs 21.43 against Rs 20.66 on a yearly basis. IT services attrition rate stood at 11.60 per cent LTM.

TCS added 14,097 employees in July-September.

Consolidated headcount stood at 4,50,738 as of September 30. "We have been gearing up for growth despite the volatility.

Our margins in Q2 reflect our continued investments in our people, and in building the capacity we need to fulfill our strong order book," said CFO V Ramakrishnan.




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