TCS Q2 net profit up 1.8% to Rs 8,042 cr, revenue rises 5.8% to Rs 38,977 cr; company announces special dividend

Mumbai: Country’s largest IT services firm Tata Consultancy Services (TCS) on Thursday reported 1.8 percent rise in consolidated net profit at Rs 8,042 crore for the quarter ended 30 September, 2019.

#2QWithCNBCTV18 | TCS Q2 constant currency revenue growth at 8.4% YoY pic.twitter.com/XRJTA2dX8C

— CNBC-TV18 (@CNBCTV18Live) October 10, 2019

It had posted a net profit of Rs 7,901 crore in the year-ago period, TCS said in a BSE filing. Revenue of the Mumbai-based firm grew 5.8 percent to Rs 38,977 crore in the July-September quarter compared with Rs 36,854 crore in the same quarter of the previous fiscal, it added.

#2QWithCNBCTV18 | @TCS CEO Rajesh Gopinathan says orderbook highest in six quarters pic.twitter.com/0UvMy0DYys

— CNBC-TV18 (@CNBCTV18Live) October 10, 2019

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TCS, whose results kick-off the earnings season for tech companies, also said its Board has 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. “We ended the quarter with steady growth despite increased volatility in the financial services and retail verticals. We remain confident as the medium and longer-term demand for our services continues to be very strong, as evidenced by our Q2 order book - the highest in the last six quarters,” TCS CEO and Managing Director Rajesh Gopinathan said.