TCS Q2 profit surges 5% to ₹11,909 cr, revenue up 7.6%
TCS board declares an interim dividend of ₹10 per equity share. The record date on October 18 and payment on November 5
TCS board declares an interim dividend of ₹10 per equity share. The record date on October 18 and payment on November 5
Post Q4 numbers, most brokerages remained bullish on TCS, expecting the share price to rise up to 15% to ₹4,700 from the current market price.
The company's revenue came in at ₹61,327 cr, a marginal 3.5% growth YoY, backed by the highest-ever order book and a 26% operating margin
Promoters of listed businesses rake in ₹14.67 lakh crore as cumulative payout over five years.
While ICICI Securities retained its ‘Buy’ stance on TCS shares, Axis Securities and Jefferies assigned ‘Hold’; Nomura and Morgan Stanley gave ‘Reduce’ and ‘Equal Weight’ ratings, respectively.
Most analysts have kept ratings unchanged on TCS post Q4 results; the IT heavyweight has an average target of ₹3,694, an upside of 16% from the current market price.
The IT giant announced a final dividend of ₹24 per share.
The IT heavyweight is likely to report moderate growth in the top and bottom line, while margins are expected to improve due to ease in supply side pressure.
The company’s revenue surged 18% YoY to ₹55,309 for the September quarter, while its revenue in constant currency grew 5.4% on a year-on-year basis.
TCS' attrition rate remains high at 21.5% on an annualised basis. The board declares a 2nd interim dividend of ₹8 per share.