The September-quarter earnings season kicks in with the announcement of results for Tata Consultancy Services (TCS). On Thursday, the IT giant reported a 1.80 percent jump on a year-on-year basis in net profit at Rs 8,042 crore for the second quarter of the financial year 2019-20. The numbers reported are lower than street estimates.
The company's revenue for the quarter under review was up by 5.80 percent to Rs 38,977 crore from the same period of the previous year. Operating income was down by 4.20 percent to Rs 9,361 crore from last year.
TCS announced its board's decision to pay an interim dividend as well as a special dividend to shareholders.
"We would like to inform you that at the Board Meeting held today, the Directors have declared a second interim dividend of Rs 5 and a special dividend of Rs 40 per Equity Share of Re 1 each of the Company," it said in its stock exchange filing.
The record date for the dividend is 18 October and the payment date is 24 October.
In constant currency terms, the Bengaluru-based company's revenue growth for the September ended quarter was at 8.4 percent on a year-on-year basis. Its operating margin for the period was at 24 percent.
CEO Rajesh Gopinathan said that the order book for the September 2019 quarter was the highest in six quarters.
Shares of TCS closed 0.36 percent lower than the previous day's close at Rs 2,002.80 on NSE. The quarterly results were announced after market hours on Thursday.