TCS Q1FY23 Results: The country’s largest IT company TCS has declared the results of the first quarter of the current financial year today. The company has also announced dividend.
TCS Q1FY23 Results: The country’s largest IT company Tata Consultancy Services (TCS) has declared the first quarter results of the current financial year 2022-23 on 8 July today. TCS’s consolidated net profit grew 5.2 per cent year-on-year to Rs 9,478 crore in the June 2022 quarter. At the same time, according to the information given to the stock exchanges, the business of the company jumped 16.2 percent on an annual basis to Rs 52758 crore during this period.
Apart from this, the board of the company has also announced dividend of Rs.8 per equity share. Before the announcement of quarterly results, its shares closed at Rs 3264.85 with a fall of 0.67 per cent on BSE today.
Highlights of TCS Q1FY23 Results
- Revenue: Rs 52758 crore, up 16.2 per cent year-on-year
- Constant Currency Revenue Growth: +15.5% YoY (YoY)
- Operating Margin: 23.1%, (-) 2.4 YoY
- Net Income: Rs 9478 crore, +5.2% YoY
- net margin: 18%
- Net Cache from Operation: Rs 10810 crore i.e. 114.1% of net income
- Dividend Per Share: 8 rupees
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Company’s reaction on the result
TCS CEO and MD Rajesh Gopinathan is excited about the company’s results and says that this fiscal year 2022-23 started off on a strong note. According to Gopinathan, the company’s business position is likely to remain strong even further, but due to the uncertainty of the macro level, the company is adopting a cautious approach.
At the same time, according to the company’s CFO (Chief Financial Officer) Sameer Seksaria, the June quarter was challenging in terms of cost management. Operating margin stood at 23.1 per cent in April-June 2022 due to increase in annual salary, increased employee retention and travel expenses gradually returning to normal levels. However, Seksaria is confident about the company’s business growth to remain strong.
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Record date for dividend is July 16
The company has informed in a regulatory filing that the board of directors has declared an interim dividend of Rs 8 for every equity share having a face value of Rs 1. It will be paid to the shareholders on August 3, 2022. This dividend will be available to only those shareholders, whose name will be in the record of the member register or depository of the company as on 16 July 2022, that is, the shareholders who will have its shares till 16 July 2022.