TCS Q3 Net Profit Rises By 2 Percent, Announced Dividend of Rs 27 Per Share

By News From 360

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TCS Q3 Results: TCS (Tata Consultancy Services), the country’s largest company in the IT Sector, has declared the results for the third quarter of the financial year 2023-24. In the third quarter, the net profit of TCS was Rs 11,058 crore with a jump of 2%, which was Rs 10,846 crore in the same quarter of the last financial year.

However, compared to the previous second quarter, there has been a decline of 2.5% in the profit of TCS in the third quarter. The company had made a profit of Rs 11,342 crore in the second quarter.

TCS said in its regulatory filing with the stock exchange that the revenue of TCS in the third quarter has increased by 4% to Rs 60,583 crore in the October to December quarter, which was Rs 58,220 crore in the same quarter of the last financial year.

TCS Announced a Dividend of Rs 27 Per Share

TCS Board has given its approval for giving a dividend of Rs 27 per share in the financial year 2023-24, which includes a special dividend of Rs 18 per share. The record date for paying dividends to shareholders has been fixed as January 19, 2024, while the payment will be made on February 5, 2024. The company said that citizens of 153 countries are working in TCS, of which 35.7% are women.

On the TCS Quarterly Results, the company’s CEO and MD K Krittivasan said, that despite the macro-economic difficulties in the third quarter, due to the strength of our business model, diversified portfolio and customer-focused strategy, TCS’s performance has been strong.

He said that everyone is seeing good momentum regarding deals in the market due to which the order book is going to be very solid in the long term. He said that amazing progress is being seen in Generative Artificial Intelligence, due to which we have increased innovation in this field for the customers.

TCS Q3 Results have been declared after the market closed. However, at market closing today, TCS shares closed with a rise of 0.61%.

TCS Campus Hiring has Already Begun

Milind Lakkad, Chief Human Resources Officer, expressed confidence in the company’s future. “We expect to be back to normal operating mode by the end of the current fiscal year,” he said. At the same time, attrition is decreasing and, at 13.3%, is already within our acceptable range.”

TCS’s commitment to hiring from College Campuses and developing organic talent was also emphasised by Lakkad, who stated that the TCS Campus Hiring has already begun for the upcoming year.