TCS Profit Increases 8% YoY To Rs. 10431 Crore In Q2, Announces Interim Dividend

Tata Consultancy Services today reported an 8.4% Yoy increase in its net profit to Rs. 10,431 crore and an 18% YoY growth in its revenue at Rs. 55,309 crore for Q2. The company's board has also announced a second interim dividend of Rs. 8 per equity share. The IT major reported its Net Cash from Operations at Rs. 10,675 crore, or 102.3% of its Net Income.

The IT company's Constant Currency revenue growth is reported at 15.4% YoY, while the order book stood at $8.1 billion. TCS reported its Operating Margin at 24% with a contraction of 1.6% YoY. Additionally, its Net Margin is reported to be at 18.9%.

The IT major has added 9,840 employees in the same quarter, while hiring has been identified as a key downside for the sector, during the quarter. According to the company, its attrition rate in IT services was 21.5% on the last 12 months basis.

On NSE, the share price of TCS closed at 3,124, up by 1.93% today.

Commenting on the result, TCS CEO and MD Rajesh Gopinathan said, "Demand for our services continues to be very strong. We registered strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well, with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements."