TCS announces interim dividend of Rs 8 per share

The interim dividend shall be paid on Wednesday, August 3, 2022

FPJ Web DeskUpdated: Friday, July 08, 2022, 08:06 PM IST
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TCS announces interim dividend of Rs 8 per share |

The country's largest software exporter Tata Consultancy Services (TCS) on Friday announced an interim dividend of Rs 8 per share.

The Board of Directors of the company at its meeting held on Friday approved the interim dividend.

"We would like to inform you that at the Board Meeting held today, the Directors have declared an interim dividend of Rs 8 per Equity Share of Re 1 each of the Company," Tata Consultancy Services said in a regulatory filing to the stock exchanges.

The interim dividend shall be paid on Wednesday, August 3, 2022, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Saturday, July 16, 2022, which is the Record Date fixed for the purpose, it said.

The company has posted a net profit of Rs 9,478 crore for the first quarter of the current financial year as compared to Rs 9,008 crore reported in the corresponding period of the last year, registering a year-on-year growth of 5.21 per cent.

The company's revenue jumped by 16.2 per cent year-on-year to Rs 52,758 crore for the quarter ended June 30.

"We are starting the new fiscal year on a strong note, with all-round growth and strong deal wins across all our segments. Pipeline velocity and deal closures continue to be strong, but we remain vigilant given the macro-level uncertainties," Rajesh Gopinathan, Chief Executive Officer and Managing Director, Tata Consultancy Services, said in a statement.

"Our new organisation structure has settled in nicely, getting us closer to our clients and making us nimbler in a dynamic environment. Looking ahead, we remain confident in the resilience of technology spending and the secular tailwinds driving our growth," Gopinathan said.

TCS said its constant currency revenue growth during the quarter under review stood at 15.5 per cent year-on-year.

The company's operating margin contracted by 2.4 percentage point to 23.1 per cent.

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