IT major Tata Consultancy Services (TCS) today announced a further interim dividend of Rs 7 per equity share along with posting financial results for fiscal third quarter. TCS had announced an interim dividend of Rs 7 per equity share in the first quarter, and Rs 7 per equity share in the second quarter. Altogether, the IT major has so far announced interim dividends of Rs 21 per equity share so far. The IT bellwether has fixed 20 January 2022, as the record date for the dividend. The third interim dividend will be paid on Monday, 7 February 2022 to the equity shareholders of the company.
TCS — India’s largest software services company — on Wednesday reported 12.36 per cent on-year rise in the consolidated net profit to Rs 9769 crore for the third quarter ended December 31, 2021. It had posted a net profit of Rs 8,727 crore in the corresponding quarter of the previous year. TCS’ revenue from operations increased 16.3 per cent on-year to Rs 48,885 crore from Rs 42,015 crore in the same quarter a year ago. The industry-leading operating margin came in at 25 per cent, a 1.6 per cent on-year fall. The net income stood at Rs 9,769 crore, a 12.3 per cent on-year increase.
Net cash from operations was at Rs 10,853 crore which is 111.1 per cent of net income. Also, TCS’ IT Services attrition rate was at 15.3 per cent, ‘lowest’ in the industry. “Our continued growth momentum is a validation of our collaborative, inside-out approach to our customers’ business transformation needs. Customers love our engagement model, our end-to-end capability, and our can-do approach to problem solving. While mapping out their innovation and growth journeys, we are also helping them execute new-age operating model transformations to support those journeys,” Rajesh Gopinathan, Chief Executive Officer and Managing Director, said.
“We continued our focus on growing organically and on developing the talent, methodologies, and toolkits for an ever-evolving technology landscape. This, coupled with our contextual knowledge and the passion and commitment of thousands of TCSers enabled us to deliver cutting-edge solutions during the quarter, and help our clients realize speed to value. We are also delighted to cross another important milestone in our journey, hitting the $25 billion revenue mark in CY 2021,” N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said.
TCS shares fell 1.11 per cent in the October-December quarter. In comparison, the Nifty 50 index also declined 1.01 per cent during the quarter under review. In today’s trade, Tata Consultancy Services (TCS) share price ended 1.5 per cent down at Rs 3,857.25 apiece. During intraday, it hit a high of Rs 3,930.15 and a low of Rs 3,836.80 apiece. In traded volume terms, a total of 1.23 lakh shares exchanged hands on BSE, while 32.03 lakh shares traded on NSE on Wednesday.