TCS Q1 results: Profit rises 9% YoY to ₹12,040 crore; declares dividend of ₹10
The revenue from operations rose 5.4% YoY to ₹62,613 crore as against ₹59,381 crore in the year ago period.
The revenue from operations rose 5.4% YoY to ₹62,613 crore as against ₹59,381 crore in the year ago period.
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.
The board of TCS has declared the first interim dividend of ₹9 per equity share of ₹1 each for the current financial year.
The IT heavyweights are expected to report weak earnings in June quarter with flattish sequential growth in CC terms due to soft demand outlook with limited large deal ramp ups.
TCS share price dropped 4.6% to hit a low of ₹3,116.40 levels after it reported lower-than-expected earnings for the first quarter ended June 2022.
All ongoing projects and the pipeline conversions with the customers indicate a very steady demand environment, says TCS CEO and MD Rajesh Gopinathan