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This Tata Group company's net profit rises to Rs 12380 crore, it is India's largest...
The company had reported a net profit of Rs 11,058 crore in the year-ago period.
Updated : Jan 09, 2025, 06:27 PM IST
 "This Tata Group company's net profit rises to Rs 12380 crore, it is India's largest...")
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The Tata Group company, TCS, has reported an 11.95 per cent jump in net profit at Rs 12,380 crore in the December quarter while the overall workforce reduced by over 5,000 employees. It is India's largest IT services company, revenue grew 5.6 per cent to Rs 63,973 crore as against Rs 60,583 crore a year earlier. However, it was down from Rs 64,259 crore in the September quarter.
The Tata Group company had reported a net profit of Rs 11,058 crore in the year-ago period, and Rs 11,909 crore in the preceding September quarter. Chief Executive K Krithivasan said the new orders were across industries, geographies and service lines, which lends a "good visibility to long-term growth".
The operating profit margin came at 24.5 per cent as against 24.1 per cent in the quarter-ago period, but still lower than the aspirational bracket. The overall workforce reduced by over 5,000 employees during the three months under review, and the overall base stood at 6.07 lakh as of December this year. The IT services attrition stood at 13 per cent. Chief Human Resources Officer Milind Lakkad said campus hirings are going according to plan and the company is preparing to onboard a higher number of campus hires next year.
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The company board announced a dividend of Rs 76 per share, including a special dividend of Rs 66 per share. TCS also announced the acquisition of land bank in Bengaluru from a Tata Group company for Rs 1,625 crore. The TCS scrip closed 1.72 per cent down at Rs 4,036.65 apiece on the BSE on Thursday, as against a 0.68 per cent correction on the benchmark.
(With inputs from PTI)
