TCS has reported a consolidated net profit of Rs 10,846 crore for the December 2022 quarter.
TCS to pay third interim dividend and special dividend to equity shareholders on February 3
Tata Consultancy Services (TCS), India’s largest IT services company, on Monday declared a third interim dividend of Rs 8 and a special dividend of Rs 67 on each equity share of Re 1. In the last quarter ending September 2022, the company had declared its second interim dividend of Rs 8 per equity share.
“We wish to inform you that at the Board meeting held today (Monday, January 9), the directors have declared a third interim dividend of Rs 8 and a special dividend of Rs 67 on each equity share of Re 1 of the company. TCS said in a BSE filing on Monday.
The third interim dividend and special dividend will be paid on February 3 to the equity shareholders of TCS whose names appear in the register of members of the company or in the records of the depositories as beneficial owners of the shares as on Tuesday, January 17, 2023. As per BSE filing, which is the record date fixed for the purpose.
The total shareholder payout of TCS during the current financial year so far has been Rs 33,297 crore.
Companies declare interim dividend payments to shareholders every quarter based on their earnings; Final dividend at the end of the year; and an occasional special dividend.
For the December 2022 quarter, TCS has reported a consolidated net profit of Rs 10,846 crore, a jump of 11 per cent on a year-on-year basis. During October-December 2022, TCS’s revenue increased by 19.1 percent year-on-year to Rs 58,229 crore.
The company’s operating margin during October-December 2022 stood at 24.5 per cent, which is a contraction of 50 basis points (100 bps is equal to 1 percentage point) compared to last year. Its net margin stood at 18.6 per cent during the quarter.
The total dividend per share of TCS during the December 2022 quarter was Rs 75 per share, which included Rs 67 as special dividend. Its record date was January 17, 2023 and payment date was February 3, 2023.
Sameer Seksaria, Chief Financial Officer, TCS, said, “Improved productivity, currency support and mitigating supply-side challenges helped expand our operating margin in the third quarter. This gives us greater confidence in our ability to drive our profitability toward our preferred range while continuing to invest in building new capabilities to support our growth and market share gains.
Ahead of the results announcement, shares of Tata Consultancy Services (TCS) on Monday jumped Rs 107.7, or 3.35 per cent, to close at Rs 3,319.7 on the BSE.
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