Kick-starting the earning season, IT major TCS, on Monday, reported a lower-than-expected 10.98 increase in consolidated net profit for the quarter that ended in December 2023. The profit stands at Rs 10,883 crore.
According to media reports, analysts had expected a profit of ₹11,046 crore.
The company said its Q3 revenue grew by a robust 19.1 per cent to Rs 58,229 crore. This was 48,885 crore in the corresponding quarter last year.
Ahead of the announcement of Q3 results, TCS closed 3.3 per cent higher at the stock markets.
The company also announced a total dividend of Rs 75 per share including Rs 67 as a special dividend. January 17 will be the record date for the dividend, and the money will be paid on February 3.
“We are pleased with our strong growth in a seasonally weak quarter, driven by cloud services, market share gains through vendor consolidation, and continued momentum in North America and UK," the company said.
Meanwhile, the company said its overall headcount declined by 2,197 to 6,13,974 in the quarter.