TCS Results: PROFIT of Rs 8,042 crore, dividend announced by Tata Consultancy Services
TCS Results: India's IT major Tata Consultancy Services (TCS) today reported a constant currency revenue growth of 8.4% year-on-year for the quarter ending September 30, 2019.
India's IT major Tata Consultancy Services (TCS) today reported a constant currency revenue growth of 8.4% year-on-year for the quarter ending September 30, 2019. The company reported a lower-than-expected September-quarter profit as it battled sluggish spending by financial clients. TCS board announced a dividend of Rs 45 per share, including a special dividend of Rs 40 per share, according to the company filing with the BSE.
The financial highlights for Quarter Ended September 30, 2019 are:
• Revenue at Rs 38,977 crore, +5.8% YoY
• Constant Currency revenue growth: +8.4% YoY
• Net Income at Rs 8,042 crore, +1.8% YoY
• Operating Margin at 24%; Net Margin at 20.6%
• Earnings Per Share at Rs 21.43, +3.8% YoY
• Net Cash from Operations at Rs 8,686 crore i.e. 108% of Net Income
• Total Dividend per share of Rs 45 per share including Rs 40 as special dividend
Commenting on the Q2 performance, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: "We ended the quarter with steady growth despite increased volatility in the financial services and retail verticals. We remain confident as the medium and longer term demand for our services continues to be very strong, as evidenced by our Q2 order book - the highest in the last six quarters."
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He further added: "Digital disruption across multiple industries is making rapid, scalable innovation a critical imperative in the Business 4.0™ world. In the auto sector, our scale in advanced engineering R&D skills and depth in digital technologies like Al and loT are making us the preferred innovation partner to leading OEMs, embedding us deeply into their product R&D value chain. Our strategic partnership with - General Motors for their next generation mobility initiatives is a powerful illustration of this."
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