Shareholders of Infosys and TCS have something to look forward to in the coming festive season, as these IT behemoths have declared an interim dividend.
Shareholders of Infosys and TCS have something to look forward to in the coming festive season, as these IT behemoths have declared an interim dividend. IT major Infosys has declared an interim dividend of Rs 8 per share, while TCS has announced a total dividend of Rs 45. Interestingly, both of these dividends will be paid by the end of this month. India’s largest IT behemoth Tata Consultancy Services declared a special dividend of Rs 40 per equity share of Re 1 each of the company, and Rs 5 as interim dividend. TCS announced that these dividends will be paid on October 24, 2019 to the equity shareholders. The dividends will be paid to “whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday, October 18, 2019 which is the Record Date fixed for the purpose.”
Infosys said that it has fixed October 23, 2019 as record date for interim dividend and October 30, 2019 as
payment date. Infosy has reported a 6% sequential (on-quarter) rise in net profit to Rs 4,019 crore while revenues increased to Rs 22,629 crore, implying a growth of 3.8% on a sequential basis. Infosys also raised the lower end of FY 20 revenue guidance. “Our performance was robust on multiple dimensions – revenue growth, digital growth, operating margins, operational efficiencies, large deal signings and reduction in attrition,” CEO Salil Parekh said. We take a look at key highlights-
Infosys Q2 results: Key figures in a nutshell
- Infosys revenues came in at Rs 22,629 crore, implying a growth of 9.8% YoY and 3.8% QoQ
- The operating profit stood at Rs 4,912 crore, increase of 0.4% YoY and 9.9% QoQ. The Operating margin
Basic EPS came in at 9.46, flat YoY and registering growth of 7.1% QoQ
- Q2 20 Digital revenues rose to $1,230 million (38.3% of total revenues), year-on-year growth of 38.4% and
sequential growth of 10.7% in constant currency.
- Q2 20 operating margin at 21.7%, 1.2% improvement over Q1 20
- H1 revenues grew by 11.9% in constant currency
- H1 operating margin at 21.1%, within the margin guidance for the year
- “We saw expansion in operating margins during the quarter driven by improvement in operational
parameters and cost efficiencies. We took the first step towards implementation of our new capital allocation policy by increasing interim dividend by over 14% compared to FY 19,” Nilanjan Roy, CFO said.