Tata Consultancy Services, the country’s largest IT services company, on Wednesday, July 12, announced an interim dividend of Rs 9 per equity share. The record data has been fixed at July 20, 2023, and the dividend will be paid on August 7. The company has also declared its financial results for Q1FY24.
“We would like to inform you that at the Board Meeting held today, the Directors have declared an interim dividend of Rs 9 per Equity Share of ₹1 each of the Company,” TCS said in a BSE filing on Wednesday.
It added that the interim dividend shall be paid on Monday, August 7, 2023, to the equity shareholders of the company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Thursday, July 20, 2023, which is the record date, fixed for the purpose.
TCS on Wednesday reported a consolidated net profit of Rs 11,074 crore for the June 2023 quarter, which is 16.8 per cent higher year-on-year.
K Krithivasan, chief executive officer and managing director of TCS, said, “It is very satisfying to start the new fiscal year with a string of marquee deal wins. We remain confident in the longer-term demand for our services, driven by the emergence of newer technologies. We are investing early in building capabilities at scale on these new technologies, and in research and innovation, so we can maximise our participation in these
opportunities.”
Samir Seksaria, chief financial officer of TCS, said, “Our operating margin of 23.2 per cent reflects the 200-bps impact of this hike, offset through improved efficiencies.”
He added that the company also continues to make the investments needed to power its future growth, including expansion of its delivery and research infrastructure.
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