TCS Q2 FY23 results: Company reports over 8 percent YoY profit
The country’s largest software services company Tata Consultancy Services (TCS) on Monday released the results for the second quarter of the current financial year (FY2023). TCS consolidated net profit grew by 8.3 per cent YoY in the second quarter. With this, the consolidated net profit of TCS stood at Rs 10,431 crore for the quarter of September 2022. It was Rs 9,624 crore in the same quarter a year ago.
Revenue up 18%; Declares Dividend
The IT major’s consolidated revenue grew 18 per cent to ₹55,309 crore in the quarter under review, from ₹46,867 crore a year ago. Not only this, the company has also decided to give dividend to its shareholders. The company’s board recommended a final dividend of ₹8 per equity share.
TCS Share Price
Shares of TCS closed nearly 2% higher at Rs 3,121 on the BSE amid the quarterly results. Announcing its results for the second quarter of FY2023, TCS reported that it added 9,840 new employees in the quarter. Earlier the number of employees was 616,171. In the June quarter, TCS had said that the job loss rate was 19.7%, while in the March quarter, TCS had a job loss rate of 17.4%. TCS’ attrition rate increased to 21.5% in the September quarter.
