TCS Share: Tata Consultancy Services (TCS), one of India’s leading IT firms, recently released its financial results for the second quarter. The figures reveal that the company has recorded a net profit of INR 11,342 crores for the mentioned period. Their total revenue stood at INR 59,692 crores. When examining these numbers on a year-on-year basis, TCS observed a 9% increase in net profit and an 8% rise in total revenue.
Further breaking down the financial details:
- The EBIT margin was recorded at 24.3%, showing an improvement when compared to the previous quarter’s 23.2%.
Dividends and Share Buyback Announcement:
TCS declared a dividend of INR 9 per share. Alongside this, the company has approved a share buyback program, which is worth INR 17,000 crores. The buyback price for the shares has been set at INR 4,150 each.
Stock Performance and Previous Buybacks:
Post-business hours, TCS shares closed at INR 3,609.90, witnessing a decline of 0.52%, or INR 19. During the trading session, the shares fluctuated between a low of INR 3,605.00 and a high of INR 3,650.00. In the past 52 weeks, the share price ranged from a low of INR 3,005.00 to a high of INR 3,679.00. Historically, TCS has initiated share buybacks in 2017, 2018, 2020, and 2022, investing nearly INR 66,000 crores across these four instances.
Meanwhile, the NIFTY IT index too experienced a dip, closing with a slight decline of 0.07% at 32,548.00 points.
TCS Share Returns Snapshot:
- 1 week: 2.04%
- 1 month: 3.71%
- 3 months: 10.31%
- Year-to-date: 10.85%
- 1 year: 17.60%
- 3 years: 28.33%
This data showcases the steady and consistent performance of TCS shares in the stock market, reaffirming its position as a prominent player in the IT sector.