The country’s largest IT company Tata Consultancy Services (TCS) has posted a profit of Rs 9,624 crore in the July-September quarter. This is 14.1 per cent higher than its profit in the same period of the previous financial year. The company’s revenue has also increased by 16.8 percent. In the second quarter of the current financial year, the revenue has increased to Rs 46,867 crore, while the net margin has reached 20.5 percent.
Cash earnings of Rs 9,945 crore from company operations
TCS’ operating margin stood at 25.6 per cent in the second quarter. This is 0.6 percent less than the margin of the second quarter of the last financial year (2020-21). The company has said that it has added very strong customers in the second quarter. Five new customers were added in the $100 million category. While 17 new customers were added in the $ 50 million category.
The company has achieved net cash of Rs 9,945 crore from the operation. This is 103.3 percent of its total income. As of 30 September, TCS had 5,28,748 employees. 19,690 new employees were added in the second quarter. 36.2 percent of the total employees are women. The exit rate was 11.9 percent. According to the company, this is the lowest in the industry.
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TCS announces dividend
TCS Board has declared a dividend of Rs 7 on an equity share of Re 1 . Dividend will be available on 3rd November 2021. TCS CEO and Managing Director Rajesh Gopinathan said the company is using the growth tailwind to invest in strengthening its capabilities. Shares of TCS, which had hit a new record high of Rs 3,990 earlier in the day, closed 1.1 per cent higher at Rs 3,935.30 ahead of the September quarter results. The market capital of the company has exceeded Rs 14.5 lakh crore.