Tata Consultancy Services’ (TCS) second-quarter earnings are a crucial indicator of the IT sector’s performance and wider economic trends.
On October 11, 2023, Tata Consultancy Services (TCS) released its Q2 FY 2024 results. The company’s consolidated revenue from operations was Rs 59,692 crore, up 7.9% year on year. The combined PAT increased by 9% year on year to Rs 11,342 crore. Revenue increased across all verticals, with Retail (+22.9% CC) and CMI (+18.7% CC) leading the way. The business also declared a dividend of Rs 9 per share, with an October 9, 2023 record date and a November 7, 2023 payment date.
The stock market is likely to react positively to the findings, as the company’s share price closed on October 11, 2023 at Rs 3,610.20 per share, down by Rs 19 or 0.52%. It is crucial to note, however, that previous success is not predictive of future results.
The Q2 FY 2024 statistics demonstrate TCS’s ongoing development and success in the IT industry. Investors and experts alike will be watching the company’s future performance closely.
