TCS announces ₹16,000 cr buyback and Q2 profit rise
pre-market1 source ↓written by the desknot a recommendation
- in consolidated net
- 4.9% increase
- for Q2 FY2020
- ₹8,433 cr
- legal provision
- ₹1,218 cr
- plan
- ₹16,000 cr buyback
- plan
- 5.33 crore shares
Tata Consultancy Services reported a 4.9% increase in consolidated net profit to ₹8,433 cr for Q2 FY2020, despite a ₹1,218 cr legal provision. The company announced a ₹16,000 cr buyback plan for 5.33 crore shares at ₹3,000 each, a 9% premium over the current share price. An interim dividend of ₹12/share was also declared.
Not investment advice. For informational purposes only.