(TCS) Ltd: Announces interim dividend of Rs 10 per share

(TCS) Ltd: Tata Consultancy Services Ltd (TCS), the largest domestic software exporter, on Thursday (July 11) announced an interim dividend of Rs 10 per share for the financial year 2024-25. The record date for this was fixed as July 20, 2024. The dividend will be paid to the shareholders of the company on August 5, 2024. TCS reported an increase in net profit for the first quarter of the financial year 2024-2025. TCS net profit rose 9 per cent to Rs 12,040 crore from Rs 11,074 crore a year ago. Revenue from operations grew 5 per cent to Rs 62,613 crore in the June quarter from Rs 59,381 crore in the same quarter of the previous fiscal. TCS said all key markets returned to sequential growth. The IT firm said it witnessed double-digit growth in emerging markets led by India (up 61.8 per cent year-on-year). Almost all verticals returned to sequential growth; year-on-year growth was led by manufacturing (up 9.4 per cent), energy, resources and utilities (up 5.7 per cent), and life sciences and healthcare (up 4 per cent).

TCS said the rate of decline in IT services was 12.1 per cent. MD and CEO K Krithivasan said, “I am pleased to report a good start to the new financial year with broad-based growth across industries and markets. We continue to expand our customer relationships, build new capabilities in emerging technologies and invest in innovation, including a new AI-focused TCS Paceport™ in France, an IoT lab in the US and expansion of our delivery centres in Latin America, Canada and Europe. Chief Financial Officer Sameer Seksaria said: “Despite the usual impact of annual salary increases in this quarter, we have achieved strong operating margin performance, which validates our efforts towards operational excellence. “We remain focused on making the right investments in R&D and talent, strengthening our superior profitability ratios, and creating long-term value for our stakeholders.”