IT giant Tata Consultancy Services (TCS), on Thursday, announced a second interim dividend of ₹10 per share on Thursday. The payment date for the dividend is set for November 5, 2024, with the record date fixed for October 18, 2024.
Before that, the company paid a final dividend of ₹28 to its shareholders on May 16, 2024.
The dividend was declared after market hours, alongside the company's Q2FY25 earnings.
India’s leading IT software firm posted a 5 per cent year-on-year (YoY) increase in consolidated net profit, reaching ₹11,909 crore for the second quarter ended September 2024, up from ₹11,342 crore in the same period last year.
The profit came in below the Street's estimate of ₹12,450 crore.
Consolidated revenue for the reported quarter reached ₹64,259 crore, reflecting a 7.6 per cent year-over-year (YoY) growth and a 5.5 per cent YoY increase in constant currency terms.
“We saw the cautious trends of the last few quarters continue to play out in this quarter as well. Amidst an uncertain geopolitical situation, our biggest vertical, BFSI showed signs of recovery. We also saw a strong performance in our Growth Markets. We stay focused on sharpening our value proposition to our clients, employees and other stakeholders," said K Krithivasan, Chief Executive Officer and Managing Director at TCS.
The operating margin was 24.1 per cent, a 0.2 per cent YoY decline. Net cash from operations amounted to ₹11,932 crore, which is 100.2 per cent of the company's net income.
“We made strategic investments this quarter in talent and infrastructure to ensure sustainable growth. Our disciplined execution resulted in superior cash conversion. Our longer-term cost structures remain unchanged, and we remain confident in our ability to continue delivering industry leading profitable growth," said Samir Seksaria, Chief Financial Officer at TCS.
