TCS Q2 net profit up 1.8% to Rs 8,042 cr, revenue rises 5.8% to Rs 38,977 cr; company announces special dividend

Mumbai: Country's largest IT services firm Tata Consultancy Services (TCS) on Thursday reported 1.8 percent rise in consolidated net profit at Rs 8,042 crore for the quarter ended 30 September, 2019.It had posted a net profit of Rs 7,901 crore in the year-ago period, TCS said in a BSE filing. Revenue of the Mumbai-based firm grew 5.8 percent to Rs 38,977 crore in the July-September quarter compared with Rs 36,854 crore in the same quarter of the previous fiscal, it added. TCS, whose results kick-off the earnings season for tech companies, also said its Board has declared a second interim dividend of Rs 5 and a special dividend of Rs 40 per equity share of Re 1 each of the company."We ended the quarter with steady growth despite increased volatility in the financial services and retail verticals. We remain confident as the medium and longer-term demand for our services continues to be very strong, as evidenced by our Q2 order book - the highest in the last six quarters," TCS CEO and Managing Director Rajesh Gopinathan said.