TCS Q2 Results 2023: Interim Dividend, Revenue Surge, and More
Highlights of the Quarter Ended September 30, 2023
Revenue Growth and Interim Dividend Announcement
On October 11, 2023, Tata Consultancy Services (TCS) announced its Q2 results for the fiscal year 2023-24. The IT giant reported a robust revenue growth of 48% year-on-year, with revenue reaching ₹7,210 billion for the quarter ended September 30, 2023.
In a significant move, TCS has declared an interim dividend of ₹9 per share, reflecting the company's strong financial performance and commitment to shareholder returns. The record date for this interim dividend has been set as October 19, 2023, with the payment date scheduled for November 07, 2023.
Key Financial Metrics
Apart from the revenue surge, TCS also reported impressive growth in other key financial metrics:
- Net profit rose by 25.5% year-on-year, reaching ₹10,431 crores.
- Earnings per share (EPS) witnessed a growth of 26.9% year-on-year, standing at ₹20.16 per share.
Outlook and Analyst Reactions
TCS's strong Q2 results and dividend announcement have been met with positive reactions from analysts. Experts have commended the company's sustained growth momentum and its commitment to shareholder value creation.
The company has expressed optimism about the future, citing strong demand for digital transformation services and its continued focus on innovation and customer-centricity. TCS is well-positioned to capitalize on the growing opportunities in the IT industry, driven by advancements in technologies such as cloud computing, artificial intelligence (AI), and data analytics.
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