India's most valuable IT company Tata Consultancy Services Limited (TCS) has released the results of the second quarter (Q2FY25) of the financial year 2024-25 today i.e. on October 10. TCS's consolidated net profit in the July-September quarter stood at ₹11,909 crore, up nearly 5% year-on-year.
The company had made a net profit of Rs 11,342 crore in the same quarter a year ago. At the same time, the company's revenue from operations has increased by 8% to Rs 64,259 crore on an annual basis in Q2FY25.
BFSI shows signs of recovery amid geopolitical situation
TCS CEO and MD K Krittivasan said – Amidst the geopolitical situation, our largest vertical BFSI has shown signs of recovery. We have also seen strong performance in our growth markets. We focus on improving our value proposition to our customers, employees and other stakeholders. BFSI stands for Banking, Financial Services and Insurance.
Company will give dividend of Rs 10 per share
Along with the results, TCS has also declared a dividend of Rs 10 per share for its shareholders. Companies give some part of the profits to their shareholders, it is called dividend.
TCS cancels press conference due to Ratan Tata's demise Due to the demise of Ratan Tata, TCS has canceled the press conference scheduled at 5.30 pm after the announcement of second quarter results. Ratan Naval Tata, chairman emeritus of Tata Sons, passed away at the age of 86. He breathed his last around 11 pm on Wednesday night. He was admitted to the Intensive Care Unit (ICU) of Breach Candy Hospital in Mumbai and was suffering from age-related ailments. Click to read full news…
TCS shares have risen 10.94% so far this year
Today TCS shares closed at 4,227.90 with a fall of 0.59%. The stock has given a negative return of 6.21% in the last 1 month. However, TCS shares have given positive returns of 6.21% in the last 6 months and 10.94% so far this year.
Today, the shares of Tata Consultancy Services closed at Rs 4,227.90 with a decline of 0.59% after trading throughout the day.
What is standalone and consolidated?
Companies release their financial results in two parts – standalone and consolidated. Standalone shows the financial performance of only one unit. Whereas, in the consolidated financial report, the entire company is reported.
TCS was established in 1968
Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) company. It is a subsidiary company of Tata Group. TCS was founded in 1968 as 'Tata Computer Systems'. TCS became a public listed company on 25 August 2004.
In 2005, it became the first company in India to enter the informatics market. In April 2018, it became the first IT company in the country with a market capitalization of $ 100 billion. The current market cap of the company is Rs 14.17 lakh crore. It operates at 149 locations in 46 countries.
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