TCS Q2 net up 1.8% at Rs 8,042 cr; announces special dividend of Rs 40/sh

Tata Consultancy Services (TCS) on Thursday posted 1.8 per cent year-on-year (YoY) rise in its net profit at Rs 8,042 crore for the second quarter (July-September) of the financial year 2019-20 (FY20). On a sequential basis, the numbers slipped 1.09 per cent. The IT major had posted profit of Rs 8,131 crore in June quarter and Rs 7,901 crore in the year-ago period.

Revenue in constant currency (CC) terms grew 8.4 per cent YoY, while revenue in rupee terms came in at Rs 38,977 crore, up 5.8 per cent YoY. Revenue in US dollar terms came in at $5,517 million. The numbers missed analysts’ estimates.

Analysts at ICICI Securities, for instance, had forecast revenue in US dollar terms to grow 7 per cent YoY and 1.8 per cent QoQ to $5,581 million.