TCS Q2 profit drops to Rs 7,475 crore, salary increase despite hardship, share buyback! – tcs q2 results: company net profit drops to rs 7,475 cr, announces rs 16,000 crore share buyback

NEW DELHI: Recently, Rs 10 lakh crore was announced. IT giant TCS (Tata Consultancy Services) posted a net profit of Rs 7,475 crore in the July-September quarter. Net profit.

8,042 crore during the same period last year. Profits were being made. Compared to this time, the net profit is about 1%. Down 7.05 percent. However, the company’s revenue increased by 3 per cent to Rs 40,135 crore from Rs 38,977 crore in the year-ago period.

However, the TCS administration has made two significant announcements in this decline. The first is to raise staff salaries with effect from October 1. At the end of September, the company had 4,53,540 employees.

TCS’s market value is now Rs 10 lakh crore!

Second, TCS said it was repurchasing a total of Rs 16,000 crore worth of shares. TCS is also the first IT company to announce a share buyback in 2021. TCS had previously repurchased the stock in 2018.

TCS will buy 533,33,333 shares at Rs 3,000 per share. TCS shares were trading at Rs 2,752.80 on the stock market today and the shares were trading at a price of 9.59% above the market value.
The company also announced an interim dividend of Rs 12 per share for shareholders.

The company had $ 8.6 billion ($ 63,000 crore) worth of deals in the July-September quarter, the company said. The company had $ 6.9 billion in deals in the June quarter and $ 8.9 billion in the March quarter.