Shares of Tata Consultancy Services (TCS) rose nearly one per cent 3,120 as the stock began ex-dividend trading in Monday’s trading session, a day before the record date for its dividend, which it announced while disclosing its second-quarter earnings for the current fiscal year.
Top Indian IT company announces second interim dividend of 8 per equity share for the financial year FY23. The company fixed October 18 as the record date for determining eligible shareholders for dividend benefits. TCS The second interim dividend is planned to be paid on November 7, 2022.
In its regulatory filing, TCS said, “The second interim dividend shall be paid on Monday, November 7, 2022, to the equity shareholders of the company, whose names appear in the register of members of the company or in the records of the depositories. Tuesday, October 18, as beneficial owners of the shares on 2022, which is the record date fixed for the purpose.”
first interim dividend of 8 per equity share was paid up to 3 August 2022 for the financial year FY23. The total equity dividend percentage stood at 800% for the June 2022 quarter.
Last week, the IT major also presented its quarterly and half-yearly results for the period ending September 30, 2022. India’s top IT company’s Q2 FY23 results came in ahead of expectations with estimates for revenue, margins and profits garnered $8.1 billion in deal wins. Regular.
TCS, the largest IT services exporter, on Monday reported a growth of over 8% in its net profit for the September quarter. 10,431 crores. Reporting quarter saw revenue up 18% 55,309 crore as against 46,867 crore in the year-ago period, but it was down 1.60 percentage points in operating margin to 24%.
TCS reported a broadly inline quarterly performance. Reported earnings for the USD were impacted by cross currency headwinds. There was a gradual improvement in EBIT margin (up 91 bps QoQ) due to improvement in employee pyramid and other efficiency measures. Employee attrition remained high as LTM attrition increased from 180 bps QoQ to 21.5%
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