TCS Q3 Results 2023 Declared: Revenue, Margin, Dividend, and other major takeaways
TCS Q3 Results 2023: Check the five major takeaways from the results and TCS share price, dividend, etc.
TCS Q3 results 2023: Tata Consultancy Services/ TCS’s net profit jumped over 11 per cent in the third quarter. The IT firm reported Rs 10,846 crore net profit for the quarter ending on December 2022, as compared to Rs 9,769 crore in December 2021. The revenue of the IT major crossed $7 billion as it reported revenue growth of 19.1 per cent on a Y-o-Y basis, revealed the IT firm during its quarterly results released on Monday.
Watch the video on TCS Q3 results here.
Here are some of the Highlights and Key Takeaways of TCS Q3 Results of FY 2023 -
1. Revenue Growth
The revenue growth stood at Rs 58,229 crore, as it witnessed a rise of 19.1 per cent on YoY basis. The total revenue earned for this quarter stands at Rs 582,290.
2. Attrition rate
The attrition rate for the firm stood at 21.3 per cent for this quarter which was at 21.5 per cent in the previous quarter. TCS’ workforce strength stood at 613,974 as on December 31, 2022, a net reduction of 2,197 during the quarter. “IT services attrition on an LTM basis trended down to 21.3 per cent and is expected to fall further in the coming quarters,” stated the organization in their filing. Women employees constitute 35.7 per cent of the workforce.
3. Net income
TCS recorded a net income of Rs 10,846 crore, witnessing a growth of 11 percent on YoY basis.
4. Operating Margin
With Operating Margin at 24.5 per cent, there has been a contraction of 0.5 per cent YoY, while the Net Margin was recorded at 18.6 per cent. “Improved productivity, currency support, and abating supply-side challenges helped expand our operating margin in Q3. This gives us greater confidence in our ability to steer our profitability towards our preferred range while continuing to invest in building newer capabilities to support our growth and market share gains," added Samir Seksaria, Chief Financial Officer.
5. Dividend per share
The Directors have announced a third interim dividend of ₹8 and a special dividend of Rs 67 per Equity Share of Rs 1 each of the Company.
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