TCS Q3 Profit Rises 7.2% to Rs 8,701 Crore, Firm Declares Rs 6 Per Share Dividend

Tata Consultancy Services (TCS) on Friday reported 7% increase in net profit for the quarter ending 31 December 2020 at Rs 8,701 crores as against Rs 8,118 crore in the year-ago period. The company benefited from greater demand for its cloud services during the Covid-19 pandemic.

The company's revenue rose 5% to Rs 42,015 crore from Rs 39,854 crore in the corresponding period last fiscal, it added.

The company announced an interim dividend of Rs 6 per share for which the record date is 16 January and payment date is 3 February. The Mumbai-based company said revenue from the banking and finance industries, its top revenue contributor, jumped 7.6% year-over-year to Rs16,655 crores in the December-quarter. This is the strongest December quarter growth in nine years, TCS said

 

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