TCS Q3 Results Key Takeaways: Profit slips, revenue jumps, attrition rate at 13.3%

TCS Key Takeaways: India's largest IT firm Tata Consultancy Services (TCS) reported its third-quarter results on Thursday (January 11, 2024), reporting a consolidated profit after tax (PAT) of Rs 11,058 crore for the quarter ended December 31, 2023 (Q3 FY24). The PAT slipped 2.5 per cent on a Quarter-on-Quarter (QoQ) basis. The IT firm also announced a third interim dividend of 900 per cent, or Rs 9, and a special dividend of 1800 per cent, or Rs 18, per Equity Share of Rs 1 each of the company. In this write-up, we present before you some of the key takeaways from the third-quarter results of the Tata group company.

Profit slips

The company's consolidated net profit in the quarter under review (Q3 FY23-24) slipped by 2.5 per cent. The IT giant reported a PAT of Rs 11,058 crore for the quarter ended December 31, 2023. The company clocked a PAT of Rs 11,342 crore in the September quarter. 

Revenue jumps 

The revenue from operations saw a 1.49 per cent jump sequentially, to Rs 60,583 crore in the December quarter FY23-24 from Rs 59,692 crore in the Sepember quarter. 

Attrition Rate

The company's attrition rate for the last 12 months stood at 13.3 per cent.

As per TCS, its workforce as on December 31, 2023 was 603,305.

The employee base is very diverse, with 35.7 per cent women, TCS said in a statement on Thursday.

Year till date, TCSers have clocked 39.7 million learning hours, and acquired 3.7 million competencies, including 515,000 high demand competences, the statement further read. 

900 per cent dividend

The company announced a third interim dividend of 900 per cent, or Rs 9 per Equity Share of Rs 1 each of the company.

The firm also announced a special dividend of 1800 per cent, or Rs 18 per Equity Share of Rs 1 each.

January 19 is the record date for the interim dividend.

"The third interim dividend and the special dividend shall be paid on Monday, February 5, 2024, 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 of Friday, January 19, 2024, which is the record date fixed for the purpose," the company added.

Expenses jump

The expenses for the company in the third quarter of the current financial year were Rs 45,658 crore, a Rs 310 crore jump from Rs 45,368 crore expenses in the September quarter.