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  1. TCS Q4 Results 2018: Double bonanza; board declares final dividend of Rs 29 per share with 1:1 bonus

TCS Q4 Results 2018: Double bonanza; board declares final dividend of Rs 29 per share with 1:1 bonus

TCS Q4 results 2018: India's largest IT services company reported the financial results for the quarter and the fiscal year ended 31 March 2018 on Thursday and recommended a dividend of Rs 29 per equity share of face value of Re 1 with a bonus issue of equity shares in a ratio of 1:1.

By: | Updated: April 19, 2018 6:12 PM
TCS Q4 results 2018: Shares of TCS advanced 1.01% to finish the day at Rs 3,191.15 on NSE on Thursday ahead of the release of the fourth-quarter earnings report card. (Image: Reuters)

TCS Q4 results 2018: India’s largest IT services company reported the financial results for the quarter and the fiscal year ended 31 March 2018 on Thursday and recommended a dividend of Rs 29 per equity share of face value of Re 1 with a bonus issue of equity shares in a ratio of 1:1. “The directors have recommended a Final Dividend of Rs 29 per equity share of Re 1 each of the company which shall be paid/dispatched on the fifth day from the conclusion of the Annual General Meeting subject to approval of the shareholders of the company, TCS said in an exchange filing.

The board of directors at its meeting held on April 19, 2018, approved a bonus issue of equity shares, subject to the approval of the shareholders, in the ratio of one equity share of Re 1 each for every one equity share of the company held by the shareholders as on a record date, TCS said in a statement.

Commenting on the Q4 performance, Rajesh Gopinathan, CEO and MD, said: “Strong demand in digital across all industry verticals and large transformational deal wins have made this one of our best fourth quarters in recent years. The strong exit allows us to start the new fiscal on a confident note.”

N. Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: “We are executing on our Business 4.0 strategy and that Is paying off very well. Our participation in our customers’ digital spending is expanding ahead of the industry. Six of our industry verticals grew above the company overage in FY 18, four of them growing double digits. Strong deal wins and a good pipeline positions us very well in the new fiscal.”

V. Ramakrishnan, Chief Financial Officer, said: “Disciplined execution delivered an all-time high cash conversion in Q4. We stayed geared for higher growth and continued to invest in our people and in the business. With revenue growth improving, and our digital business scaling up, we expect our margins to remain in a stable range.”

In the financial year 2017-2018, TCS distributed four dividends including a final dividend of Rs 27.5 per equity share followed by three successive interim dividends of Rs 7 per equity shares each in July 2017, October 2017 and January 2018.

Shares of TCS closed 0.99% higher at Rs 3190.65 on BSE while the stock advanced 1.01% to finish the day at Rs 3,191.15 on NSE on Thursday ahead of the release of the fourth-quarter earnings report card. On the results day, more than 25 lakh shares of TCS exchanged hands on both NSE and BSE with about 24.1 lakh on NSE alone.

According to today’s closing price, TCS commands a market capitalisation of Rs 6,10,782.17 crore. Up until Thursday, TCS was the only company among all the listed scrips on NSE and BSE which has a market capitalisation of more than Rs 6 lakh crore. Earlier, RIL also used to feature among the companies which have market capitalisation of over Rs 6 lakh crore but sue to plunge in share price have reduced the market cap of the Mukesh Ambani-controlled Reliance Industries Ltd.

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