TCS Reports 15% YoY Rise in Profit for Q4 FY23, Declares Dividend of Rs. 24 per share, Focuses on Organic Talent Growth and Hiring

TCS (Tata Consultancy Services) has announced the results relating to the fourth quarter of FY23. 

This IT giant has reported a 15% YoY rise in profit to 11,392 crores in Q4 FY23. Meanwhile, its operating revenue increased by 16.9% YoY to 59,162 crores. 

TCS reported Rs 10,883 crores profit in the December quarter, while its revenue stood at Rs. 58,229 crore. 

According to the reports, the dividend to be given by them is Rs. 24 per share, higher than the interim dividend for FY22, which stood at Rs. 43 per share. TCS has previously declared three dividends totalling Rs. 91 per share (including special dividends). 

Amid the recent layoff trend, TCS is scaling hiring to achieve its delivery obligations while growing.  TCS says it hired nearly 44,000 freshers and the most experienced professionals it has ever had. 

They also boosted their focus on organic talent growth, acquiring over 53K cloud certificates during the year.  This increased the total number of personnel certified on hyper scaler platforms to over 110K, reported TCS. 

After announcing the results, TCS CEO and MD said that it is really rewarding for them to look back on good growth in FY 2023. He added that their strength of order book demonstrates the resilience of demand for their services and gives them visibility for medium-term growth.

-Kritika Singhal

Also, Read the Results of the fourth quarter of Delta Corps


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