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India's largest IT services company Tata Consultancy Sevices (TCS) on Friday declared an interim dividend of Rs 8 per equity share with the record date being July 16 and the payment to be done on August 3.
“We would like to inform you that at the board meeting held today (on Friday), the directors have declared an interim dividend of Rs 8 per equity share of Rs 1 each of the company," TCS said.
The earnings per share (EPS) also increased to Rs 25.9 in the first quarter of 2022.
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In the financial year 2021-22, the company had paid Rs 31,424 crore to its shareholders by way of buybacks of shares and dividends. Also, the company had paid a final dividend of Rs 22 per share for the last quarter of the F.Y 2021-22.
The consolidated net profit of the company has jumped 5.2% Y-o-Y to Rs 9,478 crore during the first quarter of the F.Y 2022-23, while the company's revenue during April-June 2022 rose 16.2% to Rs 52,758 crore from Rs 45,411 crore which was during the last year.
The Overseas businesses also saw huge growth, North America leading amongst all other branches with a growth of 19.1%, while the UK had 12.6% on its plate. When it comes to Asian countries, India's business jumped 20.8% while Middle East & Africa rose by 3.2%.
Samir Seksaria, CFO of TCS said: “It has been a challenging quarter from a cost management perspective. Our Q1 operating margin of 23.1% reflects the impact of our annual salary increase, the elevated cost of managing the talent churn, and gradually normalizing travel expenses. However, our longer-term cost structures and relative competitiveness remain unchanged, and position us well to continue on our profitable growth trajectory."
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