TCS, India’s largest IT company, to kick off earnings season on October 11
TCS dividend 2023 record date: The company’s board will also consider a second interim dividend of the current financial year for its shareholders on the same day. TCS will be the first company in the blue-chip Nifty basket to report its financial results for the second quarter of the financial year.
TCS Q2 results date 2023: Tata Consultancy Services (TCS)—the country's largest IT company—is all set to kick off the earnings season for India Inc by reporting its financial results for the July-September period on October 11. Besides the Q2 quarterly results, the company’s board will also consider a second interim dividend of the current financial year for its shareholders on the same day. TCS will be the first company in the blue-chip Nifty basket to report its financial results for the second quarter of the financial year.
All eyes will be on the Tata group IT giant’s overall performance in the first six months of the financial year, besides trends in margin and attrition, after Accenture, which follows a September-August financial year, forecast a downbeat year ahead. IT services firm Accenture's performance and outlook added to concerns over the near-term demand environment, implying weakness for Indian IT companies, according to analysts at Motilal Oswal Financial Services.
TCS dividend 2023 record date
Any dividend cleared by the TCS board on October 11 will have October 19 as the record date, as announced by the company earlier. While reporting its financial results for the quarter ended June 30, the IT major declared a dividend of Rs 9—the first interim dividend of the financial year 2023-24. It had set July 20 as the record date for that dividend.
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What is a record date?
A record date is a date that determines the shareholders eligible to benefit from corporate action such as dividends.
How TCS performed in Q1?
Tata Consultancy Services largely met analysts’ estimates in the first quarter of the financial year 2023-24. Its consolidated net profit declined 2.8 per cent sequentially to Rs 11,074 crore as revenue expanded 0.4 per cent to Rs 59,381 crore, according to a regulatory filing. Revenue in dollar terms also increased 0.4 per cent, to $7,226 million, and margin came in at 23.2 per cent. According to Zee Business research, the IT company was estimated to report a quarterly net profit of Rs 10,900 crore, revenue of $7,250 million and margin of 23.3 per cent.
TCS shares: Past performance
TCS shares grew seven per cent in the July-September period while the headline Nifty index rose 2.3 per cent. As of September 29, the TCS stock had risen 8.3 per cent for the year, in line with a 7.8 per cent gain in the Nifty.
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