New Delhi: The country's largest IT company - Tata Consultancy Services (TCS) has released the results of the second quarter of the financial year 2024-25. The consolidated net profit of the company has increased by 5 percent on an annual basis. TCS has reported a profit of Rs 11,909 crore in the July-September quarter. TCS's net profit in the same quarter last year was Rs 11,342 crore.

In the September quarter, TCS' revenue grew 8 percent year-on-year to Rs 64,259 crore. The company's revenue growth was led by the energy, resources and utilities sector. TCS has also announced a dividend for shareholders. TCS shares today closed at Rs 4228.40 with a decline of 0.56 percent.

Dividend of Rs 10 announced

TCS also declared a second interim dividend of Rs 10 per share for shareholders. Its record date has been fixed as October 18. This means that you will get the benefit of dividend only if you have TCS shares in your demat account till Friday, October 18, 2024. Earlier, TCS had given an interim dividend of Rs 10 on July 19, 2024.

What did the CEO say about the results?

TCS Chief Executive Officer and Managing Director K Krithivasan has expressed concern over global uncertainty. He said that the cautious trend of the last few quarters continued in this quarter as well. Amid the geopolitical situation, our largest vertical, BFSI, showed signs of improvement. We also saw strong performance in our growth markets.

TCS results were weaker than expected

TCS results were weaker than market estimates. Analysts expected Tata Group's TCS second quarter revenue to grow due to major deals, especially the ongoing partnership with BSNL. They expected a good increase in net profit due to strong deal execution and growth in North America, BFSI and retail.

TCS' second quarter results come amid the expansion of the Rs 15,000 crore deal with BSNL. This deal includes setting up data centers and 4G sites across the country and laying the foundation for future 5G infrastructure. Market experts expect the company's financial performance to be better than this in the next quarter.