IT Services Firm TCS Reports 11% Rise In Net Profit In December Quarter
NDTV
The Tata group company's board also declared a dividend payout of Rs 75 per share, including a special dividend of Rs 67 per share, which will result in an outflow of Rs 33,000 crore in cash.
India's largest IT services company TCS reported an 11 per cent rise in December quarter net profit to Rs 10,846 crore, restricted by a narrowing of profit margins, but sounded sanguine about the deal pipeline.
In a multi-year first, the company reported a marginal decline in its employee base, which had been steadily growing for a long time, but made it clear that this was not due to the demand environment, and said it will hire up to 1.50 lakh people next fiscal.
The Tata group company's board also declared a dividend payout of Rs 75 per share, including a special dividend of Rs 67 per share, which will result in an outflow of Rs 33,000 crore in cash.
Its overall revenue rose 19.1 per cent to Rs 58,229 crore for the reporting quarter, but it was a 0.5 per cent narrowing of the operating profit margin to 24.5 per cent that limited the overall profit growth.
