Wednesday, April 24, 2024
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Tata Consultancy Services Ltd. (TCS) reported third quarter net profit surged 11% year-on-year (yoy) to ₹10,846 crore, on the back of strong performance in its cloud business, market share gain and currency support.

Revenue grew 19.1% to ₹58,229 crore. In constant currency, revenue expanded 13.5%. Operating margin narrowed 50 basis points to 24.5%.

The board announced a dividend of ₹75 per share including special dividend of ₹67 per share. The record date is January 17 and payment would be made on February 3..

Significantly, net headcount declined by 2,197 from the previous quarter. At the end of December, the company had a workforce totaling 6,13,974. Attrition dropped to 21.3% from 21.5%, after six quarters of uptick.

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