TCS Q3 Results Update: TCS (Tata Consultancy Services), the country's largest company in the IT sector, has declared the results for the third quarter of the financial year 2023-24. In the third quarter, the net profit of TCS was Rs 11,058 crore with a jump of 2 percent, which was Rs 10,846 crore in the same quarter of the last financial year. However, compared to the previous i.e. second quarter, there has been a decline of 2.5 percent in the profit of TCS in the third quarter. The company had made a profit of Rs 11,342 crore in the second quarter.
TCS said in its regulatory filing with the stock exchange that the revenue of TCS in the third quarter has increased by 4 percent to Rs 60,583 crore in the October to December quarter, which was Rs 58,220 crore in the same quarter of the last financial year. TCS Board has given its approval for giving dividend of Rs 27 per share in the financial year 2023-24, which includes special dividend of Rs 18 per share. The record date for paying dividend to shareholders has been fixed as January 19, 2024, while the payment will be made on February 5, 2024. The company said that citizens of 153 countries are working in TCS, of which 35.7 percent are women.
On the quarterly results of TCS, the company's CEO and MD K Kritivasan said, despite the macro-economic difficulties in the third quarter, due to the strength of our business model, diversified portfolio and customer-focused strategy, TCS's performance has been strong. He said that everyone is seeing good momentum regarding deals in the market due to which the order book is going to be very solid in the long term. He told that amazing progress is being seen in Generative Artificial Intelligence, due to which we have increased innovation in this field for the customers.
TCS results have been declared after the market closed. However, at market close today, TCS shares closed with a rise of 0.61 percent.
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