TCS Q2 Results: Tata Consultancy Services (TCS) has released its Q2 results for FY24. The IT firm posted solid revenue growth of 7.6% year-over-year (YoY). TCS also declared an interim dividend, rewarding its shareholders.
TCS Revenue Growth Shows Strong Performance
TCS’s revenue for the second quarter reached ₹64,259 crore. This marks a 7.6% growth YoY. In constant currency terms, the revenue grew by 5.5%. The IT firm continues to show resilience despite global challenges. Its diversified services and operations across 150 countries help drive steady growth.
TCS Q2 Result Shows Strong Margins Hold with Net Income Growth
The operating margin for TCS in Q2 stood at 24.1%. There was a slight decline of 0.2% compared to the previous year. However, the net income increased by 5%, reaching ₹11,909 crore. TCS’s net margin remained at 18.5%. This reflects its strong financial standing.
Strong Cash Flow and Workforce Expansion
The IT firm generated ₹11,932 crore in net cash from operations. This is 100.2% of its net income, showing excellent cash flow management. TCS also increased its workforce by 5,726 employees. The total number of employees now stands at 612,724. Women make up 35.5% of the workforce, with employees from 150 nationalities, reflecting a diverse workplace.
TCS Interim Dividend Declared for Investors
TCS has announced an interim dividend of ₹10 per share. The record date is set for October 18, 2024. The payment will be made on November 5, 2024. This reflects the IT firm’s commitment to sharing profits with its investors.
Lower Attrition Rate in a Competitive Sector
TCS continues to manage its workforce well, with the IT services attrition rate dropping to 12.3% in the last 12 months. This shows TCS’s ability to retain talent, a critical factor in the competitive IT industry.
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