TCS’ Q2 consolidated net profit logs 7% fall

Mumbai, Oct 7 : Tata Consultancy Services (TCS) on Wednesday reported a 7.05 per cent decline in its consolidated profit for the quarter ended September on a year-on-year (YoY) basis.

The profit attributable to the shareholders of the company during the July-September quarter of the current financial year (2020-21) was Rs 7,475 crore, compared to Rs 8,042 crore reported during the corresponding period of the previous financial year, the company said in a regulatory filing.

Revenue of the company, however, increased nearly 3 per cent to Rs 40,135 crore during the period under review on a YoY basis.

The company declared an interim dividend of Rs 12 per equity share of Rs 1 each of the company.

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Its board on Wednesday also approved the proposal to buyback over 5.33 crore equity shares for up to Rs 16,000 crore. The buyback price would be Rs 3,000 per share.

Further, as V. Ramakrishnan, the Chief Financial Officer would be retiring from the services of the company, effective April 30, 2021, the Board of Directors has appointed Samir Seksaria as Chief Financial Officer designate, who would take over as the CFO, effective May 1, 2021.

Disclaimer: This story is auto-generated from IANS service.

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