TCS Q2 Earnings: 5 key highlights from the IT major's September-quarter scorecard
dividend of ₹9 per share with a record date of October 19 and the payment date of November 7, 2023. Also, the company announced a share buyback of up to ₹17,000 crore at ₹4,150 per share. "Strong deal momentum delivered us a very large order book in Q2 – our second-highest TCV ever in a quarter, and a good pipeline.
The resilience of demand for our services, our clients' willingness to commit to long-tenure programs and their continued appetite for experimentation with Generative AI (Gen-AI) and other new technologies give us confidence in our longer-term growth prospects," said K Krithivasan, Chief Executive Officer and Managing Director of TCS. “We continue to make investments in our people and new technologies. We now have a 1,00,000-strong pool of Gen-AI ready consultants and prompt engineers who are engaged in hundreds of Gen-AI projects for our clients across segments," said N Ganapathy Subramaniam, Chief Operating Officer and Executive Director of TCS.
(Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Let's take a look at the key highlights of TCS' Q2 scorecard: The IT major reported an 8.7 per cent year-on-year rise in its consolidated net profit (attributable to shareholders of the company) at ₹11,342 crore. Operating margin saw a nominal expansion of 0.3 per cent YoY at 24.3 per cent.
Revenue for the quarter under review rose 7.9 per cent YoY to ₹59,692 crore. In constant currency (CC) terms, TCS' Q2 revenue grew 2.8 per cent YoY. “Our focus on improving employee utilization, while driving productivity improvement and cost efficiency across the organization, has helped us expand our operating margin to 24.3
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