TCS Q2 net profit up 1.8% to INR 8,042 cr, announces special dividend

Mumbai, Oct. 10 (PTI): Country’s largest IT services firm Tata Consultancy Services (TCS) on Thursday reported 1.8 per cent rise in consolidated net profit at INR 8,042 crore for the quarter ended September 30, 2019.

It had posted a net profit of INR 7,901 crore in the year-ago period, TCS said in a BSE filing.

Revenue of the Mumbai-based firm grew 5.8 per cent to INR 38,977 crore in the July-September quarter compared with INR 36,854 crore in the same quarter of the previous fiscal, it added.

TCS, whose results kick-off the earnings season for tech companies, also said its Board has declared a second interim dividend of INR 5 and a special dividend of INR 40 per equity share of Re 1 each of the company.

“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,” TCS CEO and Managing Director Rajesh Gopinathan said.