TCS Q2 FY2023 Results: Earnings DECLARED! Check HIGHLIGHTS, Revenue, Dividend, Net Income and More
TCS Q2 FY2023 Results: The IT major had reported consolidated revenue of Rs 46,867 crore in the year-ago quarter from which it had earned Rs 9,624 crore net income. However, its operating margin narrowed by 1.60 percentage points to 24 per cent. Here are all the TCS Q2 FY2023 Results:-
TCS Q2 FY2023 Results: The country's largest software services exporter TCS on Monday reported an annualised 8.4 per cent growth in net income at Rs 10,431 crore for the September quarter. The Tata Group company said its total revenue from services grew at a much faster pace of 18 per cent to touch Rs 54,309 crore in the period under review. The IT major had reported consolidated revenue of Rs 46,867 crore in the year-ago quarter from which it had earned Rs 9,624 crore net income. However, its operating margin narrowed by 1.60 percentage points to 24 per cent. Here are HIGHLIGHTS and KEY TAKEAWAYS of TCS Q2 FY2023 Results:-
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The company added 9,840 employees on a net basis during the quarter to take its overall strength to 6.16 lakh, making it the largest segmental employer.
However, its operating margin narrowed by 1.60 percentage points to 24 per cent.
The city-headquartered IT major had reported consolidated revenue of Rs 46,867 crore in the year-ago quarter from which it had earned Rs 9,624 crore net income.
The Tata Group company said its total revenue from services grew at a much faster pace of 18 per cent to touch Rs 54,309 crore in the period under review.
The country's largest software services exporter TCS on Monday reported an annualised 8.4 per cent growth in net income at Rs 10,431 crore for the September quarter.
Commenting on TCS Q2FY23 Results, Milind Lakkad, Chief HR Officer, said: “Reflecting our culture of being committed to our employees, we have honored all the job offers we had made. Our investments in capacity building and organic talent development have allowed us to substantially grow our business ahead of headcount addition this quarter. We believe our quarterly annualized attrition has peaked in Q2 and should see it taper down from this point, while compensation expectations of experienced professionals moderate.”
Commenting on TCS Q2FY23 Results, Samir Seksaria, Chief Financial Officer, said: “We are steadily making our way towards achieving our operating margin priority for the year, aided by leverage from good growth, the flattening of the workforce pyramid, steadily improving productivity and currency support. Very importantly, the headwinds from the supply-side challenges are abating, so that sets us up well for the seasonally weak second half of the year.”
Commenting on TCS Q2FY23 Results, N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: “This was another quarter of excellent execution that saw us delivering several transformational projects like the largest migration of 2.3 million policies to our TCS Insurance platform in one go in the UK, or the trading platform at the Gift City. Our delivery leadership congregated during the quarter and are raising the bar further on execution excellence with frameworks like Rigor in Transformation. We are pleased that our office facilities are becoming once again the place of buzz with more and more of our employees and clients celebrating togetherness to realize their full potential.”
Commenting on TCS Q2FY2023 Results, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “Demand for our services continues to be very strong. We registered strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements. As clients prepare for a more challenging environment ahead, technologies like cloud that have been embraced now have to be fully leveraged to realize the promised value. TCS has the combination of contextual knowledge, technology expertise and execution rigor to deliver on this imperative.”
TCS says revenue jumps 18 pc to Rs 54,309 crore in Q2 on annual basis.
TCS says net income rises 8.4 pc to Rs 10,431 cr in September quarter on-year.
Tata Consultancy Services (BSE: 532540, NSE: TCS) reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending September 30, 2022.
Highlights of the Quarter Ended September 30, 2022
• Revenue at `55,309 crore, +18% YoY
• Constant Currency revenue growth: +15.4% YoY
• Order Book at $8.1 billion | Book to Bill at 1.2
• Operating Margin at 24%; contraction of 1.6% YoY
• Net Income at `10,431 crore, +8.4% YoY | Net Margin at 18.9%
• Net Cash from Operations at `10,675 crore i.e. 102.3% of Net Income
• Net headcount addition of 9,840 |Workforce strength: 616,171
• Diverse and inclusive workplace: Women in the workforce: 35.7% | 157 Nationalities
• Building a G&T workforce: 11.7 million learning hours clocked | 1.5 million competencies acquired
• LTM IT Services attrition rate at 21.5%
• Dividend per share: ` 8.00 | Record date 18/10/2022 | Payment date 07/11/2022Financial results for the quarter and six month period ended September 30, 2022 and declaration of second interim dividend
"We would like to inform you that at the Board Meeting held today, the Directors have declared a second interim dividend of ₹8 per Equity Share of ₹1 each of the Company," TCS said.
TCS Share Price
TCS stock price settles with strong gains ahead of Q2 results.
Tata Consultancy Services Ltd (TCS) share price closed with sharp gains ahead of its July-September quarter results.
TCS Q2FY23 Financial Results
#TCSQ2 FY 2022-23 Financial Results, "Watch the live stream of the #TCSQ2 FY 2022-23 Earnings Press Conference on October 10th, 2022, from 17:30 IST onwards. Follow live tweets on @TCS," TCSGlobal wrote on its YouTube handle.
TCS Share Price Movement Ahead Of Q2FY23 Results
TCS FIXES RECORD DATE FOR 2ND INTERIM DIVIDEND
Tata Consultancy Services has fixed 18 October 2022 as record date for second interim dividend, if declared.
Earlier, TCS in Q1FY23 results had announced dividend per share of Rs 8.00. The Record date was 16/07/2022 and Payment date was 03/08/2022.
Ahead of TCS Q2 Results Announcement Today at 5.30 PM, the Board is mulling 2nd Interim Dividend.
TCS Q2 2022-23 Earnings Release: Schedule of Events and Dial-in Details
TCS to Announce Second Quarter FY 2023 Results on October 10, 2022
Schedule of Events:
Date: October 10, 2022
After trading hours - EARNINGS RELEASE
Tata Consultancy Services Limited will announce its results for the Second Quarter of FY 2023, ended September 30, on Monday, October 10, 2022, after-market trading hours. The results will be available on www.tcs.com.17:30 hrs IST - PRESS CONFERENCE
The leadership team will address the media in a Press Conference at 17:30 hrs IST (20:00 hrs SST/HKT, 12:00 hrs UTC, 08:00 hrs US ET). The interaction will be telecast live on various business news channels and also streamed live on our website and on our YouTube channel.Ahead of the TCS Q2FY23 Results announcement, Tata Consultancy Services tweeted, "Watch the #TCSQ2 FY 2022-23 Financial Results Press Conference LIVE on October 10th| 17:30PM IST on Youtube or Linkedin. Livestream link: https://youtube.com/watch?v=hlvvslB2M5Q."
Tata Consultancy Services (TCS) Limited Share Price Movement Today: 10th Oct 2022 (As of 12:59 PM)
According to Anand Rathi research team's report on Indian IT Sector and Q2 FY23 Results Preview - "Maintaining TCVs and growth in a tough environment; Supply side pressures begin to ease."
Maintaining TCVs and growth in a tough environment: "We expect companies to largely maintain their TCVs and order intake for the quarter, suggesting resilience in a tough environment as clients continue to award contracts. Sector is likely to report aggregate $ growth of ~2% q/q and 14% y/y. On sequential basis, $ growth has reverted to pre pandemic levels, despite cross currency headwinds of ~200bps in 2QFY23. We are not expecting any guidance revisions (CC basis) during 2Q."
TCS Q1FY23 Results: Earlier, on July 8, 2022: Tata Consultancy Services (BSE: 532540, NSE: TCS) had reported its consolidated financial results for the quarter ending June 30, 2022.
Highlights of the Quarter Ended June 30, 2022
-Revenue at $6,780 million, +10.2% YoY
-Constant Currency revenue growth: +15.5% YoY
-Operating Margin at 23.1%; contraction of 2.4% YoY
-Net Income at $1,218 million | Net Margin at 18%
-Net Cash from Operations at $1,388 million ie 114.1% of Net Income
-Net headcount addition of 14,136 |Workforce strength: 606,331
-Diverse and inclusive workplace: Women in the workforce: 35.5% | 153 Nationalities
-Building a G&T workforce: 12 million learning hours clocked | 1.7 million competencies acquired
-LTM IT Services attrition rate at 19.7%
-Dividend per share: ` 8.00 | Record date 16/07/2022 | Payment date 03/08/2022
TCS Q2FY23 Results: Expectations
"For Q2FY23, we think that margins will expand by 80bps QoQ, driven largely by reduced operational slack, automation, INR depreciation vs USD and growth. Hiring slowdown to continue, while attrition to remain elevated in Q2FY23," as per Nirmal Bang, an Online Share Trading and Broking Company.
TCS Share Price Today Ahead of Q2 FY2023 Results Announcements (As of 11.48 AM, Oct 10, 2022)
Ahead of TCS Q2FY23 Results, analysts predict that Indian IT services companies are expected to log steady sequential revenue growth in September quarter but an overhang of weak global cues tinged with macro risks will put spotlight on management commentary around deal momentum and demand outlook.
TCS Q2 FY 2023 Results: Conference Call Dial-in Information
Date and Time
October 10, 2022 at:
1900-2000 hrs IST
2130-2230 hrs SST/HKT
1330-1430 hrs UTC
0930-1030 hrs US EST
TCS Q2 FY 2023 Results: 19:00 hrs IST - EARNINGS CONFERENCE CALL
The Company will also host an Earnings conference call at 19:00 hrs IST (21:30 hrs SST/HKT, 13:30 hrs UTC, 09:30 hrs US ET), during which the leadership team will discuss the financial performance and take questions.
- TCS Q2 Results: 17:30 hrs IST - PRESS CONFERENCE - How To WATCH LIVETCS to Announce Second Quarter FY 2023 Results: The leadership team will address the media in a Press Conference at 17:30 hrs IST (20:00 hrs SST/HKT, 12:00 hrs UTC, 08:00 hrs US ET). The interaction will be telecast live on various business news channels and also streamed live on our website and on our YouTube channel.
Tata Consultancy Services Limited will announce its results for the Second Quarter of FY 2023, ended September 30, on Monday, October 10, 2022, after-market trading hours. The results will be available on www.tcs.com.
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