TCS has posted a profit of Rs 9,769 crore in the December quarter. This is 12.2 per cent more than its profit in the same period of the previous financial year.
TCS Q3 Result: The country’s largest IT company Tata Consultancy Services (TCS) has announced its quarterly results. The company has posted a profit of Rs 9,769 crore in the December quarter. This is 12.2 per cent more than its profit in the same period of the previous financial year. The company’s net profit in the corresponding quarter (October-December) of the last financial year was Rs 8,701 crore. According to the information given to the stock exchanges, the company’s revenue grew by 16.3 percent to Rs 48,885 crore in the October-December quarter, from Rs 42,015 crore in the same quarter a year ago.
company statement
Rajesh Gopinathan, Chief Executive Officer and Managing Director, TCS said, “Our consistent growth reflects our ability to support our clients in meeting their business transformation needs. Our customers love the way we connect with them and our ability to meet their diverse needs.”
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TCS announces dividend
The company has declared interim dividend of Rs 7 per equity share. The record date for this is January 20, 2022, while the payment date is February 7, 2022. The job loss rate from IT services stood at 15.3 percent in the third quarter.
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18,000 crore buyback program
The TCS board on Wednesday approved share buybacks up to Rs 18,000 crore at a price of Rs 4,500 per share. TCS’s offer price of Rs 4,500 is about 16.6 percent higher than the closing price of the company’s stock at Rs 3,857.25 on BSE on Wednesday. TCS said in the information given to the stock exchange, “TCS Board in its meeting held today has approved the buyback proposal of up to four crore equity shares. The Board has approved a share buyback program of Rs 18,000 crore at a price of Rs 4,500 per share.
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