TCS Q3 Result: Good news for shareholders! After the increase in profit, 2 dividends were declared, and shares fled
TCS Q3 Result: The profit of Tata Group’s IT company TCS has increased by 11 percent on an annual basis and 4 percent on a quarterly basis. The income of the company has also registered an increase. However, the market was expecting better.
Highlights
- TCS made a profit of Rs 10840 crore in the October-December quarter.
- The company will give 2 dividends to the shareholders at 67 and 8 rupees.
- The rate of people leaving the company has also decreased before.
New Delhi. The country’s largest IT company Tata Consultancy Services ie TCS has announced the October-December quarter results. During this period, the company’s consolidated profit has increased from Rs 10,431 to Rs 10,846 crore on a quarterly basis. This is an increase of 4 percent. On the other hand, on an annual basis, it has increased by 11 percent from 9769. Along with this profit, the company has declared 2 separate dividends for the shareholders. The company will pay a special dividend of Rs 67 and an interim dividend of Rs 8 per share.
Significantly, market experts were expecting more profits from the company. The market was expecting a profit of Rs 11,137 crore from TCS. The company’s income from operations increased by 5.27 percent to Rs 58,229 crore from Rs 55,309 crore on a quarterly basis.
Company Statement
TCS CEO and MD Rajesh Gopinathan said, “We are satisfied with our strong growth in a seasonally weak quarter. This benefit has been driven by our cloud services, market share, and reach and growth in North America and the UK… Looking ahead to the current uncertainties, our long-term growth outlook remains strong.
The number of employees decreased
, the attrition rate (attrition rate) of the company has increased in this quarter. 2197 net new people left the company in the third quarter. This is the first time in 10 quarters that the number of employees with the company has decreased. However, the company is hopeful that the attrition rate in the IT sector will come down. Significantly, if the rate of leaving the job increases, then the companies have to increase the salary, which affects its profits. The company had a total of 616,171 employees in this quarter.
The condition of the shares
Today there was a boom in the stock market and TCS also remained in the green mark. Even before the quarterly results, the stock closed at Rs 3,320 with a gain of 3.38 percent or Rs 108. In the last week, this share has gone up by about 50 rupees. TCS has a market cap of over Rs 11.75 lakh crore and is among the top 10 Sensex companies. TCS is a large-cap company of the Tata Group. It provides its services in many countries of the world.
