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  1. TCS to announce Q4 results on April 12, board to consider final dividend

TCS to announce Q4 results on April 12, board to consider final dividend

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2 min read • Updated: April 1, 2024, 12:36 PM

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IT major Tata Consultancy Services (TCS) will kickstart the result season from April 12 for the final quarter of FY24. TCS board also plans to consider the final dividend during the meeting, the company said in an exchange filing.

TCS will kickstart the earnings season on April 12

Tata Consultancy Services (TCS) management will be meeting on April 12 to consider and approve the standalone and consolidated results for the financial year ending March 31, 2024. Further, the company board will also consider approving the final dividend for the quarter ended March 31, 2024 (Q4FY24).

Till third quarter of FY24, the company has declared a dividend of ₹69 per share, resulting in a dividend yield of 1.7% on the CMP of ₹3,901 apiece.

In Q3FY24, the company reported a 4% growth in revenue in rupee terms and 2.9% in dollar terms. The operating margins for the quarter stood at 25%, and the net profit margin stood at 19%. In addition, the total contract value for the company was $8.1 billion as of Q3FY24.

In a separate exchange filing, the company announced receiving new Generative AI competency partner status from AWS. With over 350,000 employees trained on foundational skills in GenAI, TCS is well-poised to build one of the largest AI-ready workforces in the world, said the company in the exchange filing.

TCS shares recorded a free fall from its recent all-time high levels on March 18 after global IT major Accenture PLC announced guidance cuts in revenue for FY25 to 1%-3%. Following this, the NIFTY IT index witnessed a more than 3% correction.

Shares of TCS are currently trading 0.7% higher at ₹3,903 apiece as of 12:30 pm on NSE. The stock made a day high of ₹3,914 per share today.