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Tata Consultancy's Profit Climbs in Fiscal Q3; Revenue Beats Estimates

Tata Consultancy Services (NSE: TCS, BOM:532540) said its consolidated profit attributable to owners jumped to 108.46 billion Indian rupees in the fiscal third quarter from 97.69 billion rupees a year ago.

Earnings per share for the quarter ended Dec. 31, 2022, rose to 29.64 rupees from 26.41 rupees a year earlier. Analysts polled by Visible Alpha expected EPS of 29.97 rupees.

Revenue from operations of the IT company increased year on year to 582.29 billion rupees from 488.85 billion rupees, beating the 570.06 billion-rupee revenue estimate by analysts polled by Visible Alpha.

The board of Tata Consultancy Services declared a third interim dividend of 8 rupees per share and a special dividend of 67 rupees per share. The dividend will be paid on Feb. 3 to shareholders on record as of Jan. 17.

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