TCS announces ₹16,000 cr buyback and Q2 profit rise
after close1 source ↓written by the desknot a recommendation
- in consolidated net
- 4.9% increase
- for Q2 FY2020
- ₹8,433 cr
- legal provision
- ₹1,218 cr
- company announced
- ₹16,000 cr buyback
- repurchasing
- 5.33 crore shares
Tata Consultancy Services reported a 4.9% increase in consolidated net profit to ₹8,433 cr for Q2 FY2020, excluding a ₹1,218 cr legal provision. The company announced a ₹16,000 cr buyback, repurchasing 5.33 crore shares at ₹3,000 each, which is 9% above the current market price. An interim dividend of ₹12 per share was also declared.
Not investment advice. For informational purposes only.