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    TCS to kickstart Q4 earnings season on April 12, consider final dividend for FY23

    Synopsis

    ​​"A meeting of the Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Wednesday,​ April 12, 2023, to approve and take on record the audited standalone and consolidated financial results of the Company under

    TCS to kickstart Q4 earnings on April 12, consider final dividend for FY23ETMarkets.com
    IT services giant Tata Consultancy Services (TCS) will kickstart the fourth quarter earnings season by declaring results on April 12.

    "A meeting of the Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Wednesday, April 12, 2023, to approve and take on record the audited standalone and consolidated financial results of the Company under

    Indian Accounting Standards (Ind AS) for the year ending March 31, 2023," the company said in a filing.

    Along with the financial results, TCS board will also consider and approve a final dividend for the financial year ending March 31. The dividend, if declared, will be sent for approval of shareholders at the company's AGM.

    On Friday, TCS shares closed 2.07% higher at Rs 3,204 apiece on NSE. So far this year, the shares have seen a muted performance, with the stock down 1.76%.

    In the third quarter, the IT company reported a 5.3% sequential rise in consolidated revenue at Rs 58,229 crore. The net profit rose nearly 4% in the quarter to Rs 10,846 crore. In constant currency terms, revenue grew 13.5% year-on-year during the quarter, TCS said.

    In a surprise exit, Rajesh Gopinathan has recently stepped down as the MD and CEO of TCS to pursue other interests.

    The Board has nominated K Krithivasan as the CEO designate with effect from 16 March. The company said Krithivasan will go through a transition with Rajesh
    Gopinathan and will be appointed as the MD & CEO in the next financial year.

    Gopinathan had a 22-year stint with TCS, and during his last six years of tenure, the IT company has added $10 billion in incremental revenue and over a $70 billion increase in market capitalisation.During Gopinathan's tenure as CEO, shares of TCS have more than doubled, rising over 160% in the six years.



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    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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