TCS Q3 Results: The country’s largest IT company TCS (Tata Consultancy Services) has declared the results of the quarter of the financial year 2022-23. In the third quarter, there has been an increase of 10.98 percent in the net profit of TCS and it has been Rs 10,883 crore. A year ago, the company’s profit during this period was Rs 9,806 crore.
Dividend to Rs 75 investors
The results were announced after the board meeting of TCA. During the third quarter, TCS’s revenue increased by 19.11 percent to Rs 58,229 crore. While the revenue in the same quarter last year was Rs 48,885 crore. The company has also announced a special and interim dividend of Rs 75 per share to investors for 2022-23. The company has fixed January 17, 2023 as the record date for the third interim dividend. The company said that it has been decided in the board meeting that an interim dividend of Rs 8 and a special dividend of Rs 67 per share will be given. The company has given this information in its regulatory filing with the stock exchange. On February 3, 2023, this dividend will be given to those shareholders whose names will be included in the register of members of the company on the record date.
There is a jump of 13.5 percent in the company’s revenue in currency term. The highest growth of 15.4 percent has been seen in North America and UK. Declaring the results, the company said that the number of its employees has decreased by 2,197. And the percentage of people leaving the company in the last 12 months has been 21.3 percent. The company said that despite the weak quarter, the company has declared excellent results. Cloud services, increasing market share through vendor consolidation have been strong results driven by better performance in North America and the UK.
In Monday’s trading session, TCS’s stock closed at a brisk pace. TCS stock closed at Rs 3319 with a gain of 3.38 per cent.