Tata Consultancy Service (TCS), the country’s largest information technology service provider reported a net profit of Rs 9,008 crore for the period ending June 30, 2021 (Q1 of the current fiscal), which witnessed a 28.5 per cent quarterly growth owing to rise in demand for digital services.
The IT behemoth recorded a revenue of Rs 45,411 crore for the period ending June 30, 2021, which was up by 3.9 per cent over the previous quarter, when it was Rs 43,705 crore.
The company declared its results for the first quarter of the current financial year on Thursday and announced that during its board meeting, the directors have declared an interim dividend of Rs 7 per equity share of rupee one each of the company.
“The interim dividend shall be paid on August 5, 2021 to the equity shareholders of the company, whose names appear on the Register of Members of the company or in the records of the depositories as beneficial owners of the shares as on July 16, 2021 which is the record date fixed for the purpose,” TCS said in a statement.
TCS’ net cash from operations stood at Rs 10,296 crore, which was 114 per cent of the net income.
“I am humbled that in a personally challenging quarter to many, TCS demonstrated phenomenal character in helping each other, be meaningful to the communities and delivered on our commitments to clients. On that backdrop, our business in North America, BFSI and retail all showed an appreciable growth which underlines the resilience of our operating model,” said Rajesh Gopinathan, CEO and Managing Director of TCS.
“Given the variants of the virus and fears of a potential third wave, we are watchful of the emerging situation and remain optimistic of the opportunities in our core markets and verticals. We are well positioned and operating diligently to participate in them aggressively,” he further added.