Dividend bonanza for TCS shareholders; Board gives nod to Rs 15 per share final dividend

IT major Tata Consultancy Services (TCS) today announced that its Board of Directors has recommended a final dividend of Rs 15 per share, subject to shareholder approval. Earlier the company has handed interim dividends of Rs 5 per share, Rs 12 per share, and Rs 6 per share in the previous three quarters. The total dividend given by TCS in the previous financial year now stands at Rs 38 per share. Kicking off the earnings season, the company reported a 15% on-year jump in net profit to Rs 9,246 crore in the January-March quarter.

TCS said its consolidated revenue from operations grew to Rs 43,705 crore against Rs 42,015 crore in the previous quarter. The revenue growth was just shy of analyst estimates. BFSI segment continues to be the largest contributor towards the revenue with Rs 17,559 crore, followed by the communication, media, and technology segment, where revenue was at Rs 7,042 crore.

The IT firm said that its fourth-quarter order book was at $9.2 billion, the highest ever total contract value in a three month period. Overall the revenue for the pandemic struck year came in at Rs 1.64 lakh crore, while the order book for the year was at $31.6 billion, up 17% on-year basis.  The company said it added 40,185 employees during the year, with 19,388 employees joining in the last quarter — the highest ever for a single quarter.

“While we continue to dominate in our traditional areas of strength, we are making good progress in gaining share in the growth and transformation opportunity. Our focus going into FY 22 will be to engage with clients in their growth agenda, propelled by innovation and leverage of collective knowledge,” said Rajesh Gopinathan, Chief Executive Officer and Managing Director.

Additionally, the company announced the appointment of Samir Seksaria as Chief Financial Officer. Samir Seksaria will take over from Ramakrishnan V, who would be retiring at the end of this month.