TCS consolidated net profit rose 12 percent year-on-year to Rs 12,380 crore in the December quarter. Its revenue rose 6 percent to Rs 63,973 crore. TCS has already distributed interim dividends of Rs 10 per share, i.e. Rs 20 in total, twice in the current financial year. Let’s know the full details.
The country’s largest IT company Tata Consultancy Services (TCS) has performed very well in the December quarter of FY 2024-25. Both the profit and revenue of this IT firm of Tata Group have increased. TCS has also announced the third interim dividend and special dividend of the financial year. Its record date has also been fixed. TCS is the first major company to present the financial results of the December quarter. HCL Tech, Wipro and Infosys will present the December quarter results next week.
How was the performance of TCS in the December quarter
TCS’ consolidated net profit rose 12% year-on-year to Rs 12,380 crore in the December quarter. Its revenue rose 6% to Rs 63,973 crore. TCS CEO and MD K Kritinivasan said that he is very happy with the total contract value (TCV) performance. The company’s total order book stood at $10.2 billion in the December quarter. It was $8.1 billion a year ago.
Record date for dividend
TCS has also given a great dividend gift to its shareholders. It has announced an interim dividend of Rs 10 and a special dividend of Rs 66. Its record date has been fixed as January 17. This means that shareholders who have TCS shares in their demat account till January 17 will get the benefit of dividend.
TCS has already distributed interim dividends of Rs 10 per share twice in the current financial year, i.e. a total of Rs 20. Before the results today, investors have kept away from TCS shares as a precaution. Its stock closed at Rs 4,044.00 with a decline of 1.57 percent.
Reduction in TCS workforce
TCS said in a regulatory filing that the company has lost 5,370 employees during the October-December quarter. This has reduced the total number of employees from 6,12,724 to 6,07,354. This means that 5,370 employees have either changed jobs or have been fired. TCS’s diversified workforce comprises 35.3 percent women and includes employees from 152 countries.
According to TCS CHRO Milind Lakkad, more than 25,000 associates were promoted in the December quarter. TCS is also investing heavily in skill development of employees. The company is also moving ahead with its campus placement scheme. The company is also preparing to increase campus placements next year.
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