Thu Jan 09 14:19:16 UTC 2025: **Tata Consultancy Services (TCS) Exceeds Profit Expectations in Q3, Despite Revenue Shortfall**
**Mumbai, January 9, 2025** – Tata Consultancy Services (TCS), India’s largest IT company, announced its December 2024 quarter results today, exceeding profit expectations but falling slightly short on revenue. The company reported a consolidated net profit of ₹12,380 crore, a 12% year-on-year increase. However, revenue grew by 6% to ₹63,973 crore, below the ₹64,218 crore predicted by Moneycontrol polls. Despite the revenue shortfall, the profit figure surpassed the polled estimate of ₹12,308 crore.
In addition to the strong earnings, TCS declared an interim dividend of ₹10 per share and a special dividend of ₹66 per share, with a record date set for January 17th. Shareholders will receive the dividend by February 3rd. This adds to the ₹20 interim dividend already distributed this fiscal year.
TCS CEO and MD K. Krithivasan expressed satisfaction with the Total Contract Value (TCV) performance, highlighting a strong order book of $10.2 billion in the December quarter, compared to $8.1 billion and $8.6 billion in the December 2023 and September 2024 quarters, respectively.
TCS is the first major IT company to release its December quarter results. HCL Tech, Wipro, and Infosys are expected to announce their results next week. Before the results announcement, TCS shares closed 1.72% lower at ₹4036.65 on the BSE.
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