TCS Dividend News, Q2FY2023 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.

TCS Dividend News

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Confirming the dividend, TCS said, "We would like to inform you that at the Board Meeting held today, the Directors have declared a second interim dividend of Rs 8 per Equity Share of Rs 1 each of the Company." 

TCS Dividend News: Record date 18/10/2022

TCS Dividend News: Payment date 07/11/2022

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.

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.

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: Rs 8.00 | Record date 18/10/2022 | Payment date 07/11/2022

The TCS scrip closed 1.84 per cent up at Rs 3,121.20 apiece on the BSE as against a 0.34 percent correction in the benchmark Sensex.

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.”