TCS Q3 results: Profit rises 7% YoY to Rs 8,701 crore; declares interim dividend of Rs 6

Tata Consultancy Services (TCS), the country's largest software exporter, on Friday reported a 7.01 per cent year-on-year rise in its consolidated net profit at Rs 8,701 crore for the third quarter ended December 31, 2020, driven by strong demand for its cloud services during the COVID-19 pandemic. The IT bellwether said that it was the strongest third quarter growth in last nine years

The Mumbai-headquartered company had posted consolidated net profit of Rs 8,118 crore in same quarter of last financial year, TCS said in a regulatory filing.

Consolidated revenue for the quarter increased 5.4 per cent year-on-year to Rs 42,015 crore, and the quarter-on-quarter rose by 4.7 per cent.

The company announced interim dividend of Rs 6 per share for which the record date is 16 January and payment date is 3 February.

Ahead of Q3 results, TCS shares ended 2.89 per cent higher at Rs 3120.35 apiece against the previous closing price of Rs 3,032.70 on the BSE.

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