Tata Consultancy Services Ltd. announced on Thursday a second interim dividend of Rs 10 per equity share of Rs 1 each of the company.
The dividend will be paid to the shareholders of the company on Nov. 5, 2024, according to an exchange filing on Thursday. The record date for the interim dividend is set for Oct. 18.
The company had previously announced its first interim dividend of Rs 10 per share. The record date for the same was set for July. 20.
In FY 2024, the company announced its final dividend of Rs 28 apiece, an interim dividend at Rs 9 per share and a special dividend at Rs 18 apiece, according to the data provided on the Bombay Stock Exchange.
TCS reported a net profit of Rs 1,909 crore, indicating a 1.1% growth for the three months ended September for the fiscal 2025 missing Bloomberg estimates of Rs 12,543 crore.
The company's revenue growth for the quarter rose 2.6% to Rs 64,259 crore, compared to the Bloomberg estimate of Rs 64,186 crore.
TCS Management Comments
“We saw the cautious trends of the last few quarters continue to play out in this quarter as well. Amidst an uncertain geopolitical situation, our biggest vertical, BFSI, showed signs of recovery. We also saw a strong performance in our growth markets," according to K Krithivasan, chief executive officer and managing director at TCS.
Milind Lakkad, chief HR officer, said that the company also welcomed 11,000 associates in the first half of the year. It also remains on track for trainee onboarding. "We have also commenced the campus hiring process for FY26."
Shares of TCS closed 0.60% lower at Rs 4,227.40 apiece, compared to a 0.07% rise in the benchmark NSE Nifty.
The stock has risen 16.49% in the last 12 months and 11.96% year-to-date.
Out of 47 analysts tracking the company, 30 maintains a 'buy' rating, 10 recommend a 'hold' and seven suggest 'sell' according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 6.5%.
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