TCS reported its earnings for the quarter after market close on Thursday.
What Happened: The Tata Group company’s net profit for the June quarter came in at ₹12,040 crore, up around 8.7% from the ₹11,074 crore profit posted in the corresponding quarter of last year.
The IT services company’s revenue for the quarter came in at ₹62,613 crore crore, up 5.4% from the ₹59,381 crore posted in the same quarter last year. Both the top and bottom lines beat analyst estimates of around ₹62,150 crore in revenue and ₹11,975 crore in profit.
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On a sequential basis, the revenue was up 2.2% from ₹61,237 crore it earned in the preceding quarter. Profit, on the other hand, dipped around 3.4% quarter on quarter from the ₹12,434 crore posted in the March quarter. Operating margin for the June quarter came in at 24.7%.
The IT giant also announced a ₹10 per share interim dividend. The record date for the dividend is July 20 and it is expected to be paid out by August 5.
Price Action: TCS’s share price was up 0.37% to close at ₹3,923.70 on Thursday.
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