TCS Q1 Results 2019: India's largest IT services company TCS (Tata Consultancy Services) announced an interim dividend of Rs 4 per equity share while announcing the financial results for April-June period of the financial year 2018-2019.
TCS Q1 Results 2019: India’s largest IT services company TCS (Tata Consultancy Services) announced an interim dividend of Rs 4 per equity share while announcing the financial results for April-June period of the financial year 2018-2019. “At the board meeting held today, the directors have declared an interim dividend of Rs 4 per equity share of Re 1 each of the company, TCS said in an exchange filing.
The interim dividend shall be paid to the equity shareholders of the company whose names appear on the register of members of the company or in the records of the depositories of the beneficial owners of the shares as on Wednesday, 18 July 2018 which is the record date fixed for the purpose, TCS said in a statement. The interim dividend will be paid on 35 July 2018, Wednesday.
Tata Group’s cash cow TCS’ total revenue in the first quarter posted a growth of 15.8% to Rs 34,261 crore on year while net income for the reporting period grew by 23% YoY to Rs 7,340 crore. TCS operating margin stood at 25% while the net cash from operations was at 103.7% of the net profit.
In the April-June quarter, the company allotted 191.42 crore equity shares as fully paid-up bonus shares by capitalisation of profits transferred from retained earnings amounting to Rs 86 crores and capital redemption reserve amounting to Rs 106 crores, pursuant to an ordinary resolution passed after taking the consent of shareholders through postal ballot, TCS said in a statement.
CEO and MO, Rajesh Gopinathan has said that “we are starting the new fiscal year on a strong note, with the growth engine firing on all cylinders. Our Banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, we are positioned well for the future.”
“Customers across verticals and markets are embracing our Business 4.0 thought leadership framework and accelerating their digital transformation journeys. Our contextual knowledge, full spectrum capabilities and investments in research and innovation are making us their preferred partner for their growth and transformation initiatives,” Rajesh Gopinathan added.