TCS Q2 results 2024

TCS to Announce Q2 Results and Consider Interim Dividend on October 10, 2024

Tata Consultancy Services Ltd (TCS), a leader in the IT sector, has officially declared that its board of directors will meet on October 10, 2024, to discuss the company’s second-quarter results. Investors and market watchers are eagerly awaiting this meeting, which could shape the market’s outlook for one of India’s largest tech firms.

In an official exchange filing on September 30, TCS also mentioned that the board would “consider the declaration of a second interim dividend for equity shareholders.” This announcement has created a buzz among shareholders anticipating further returns on their investments.

Dividend Consideration and Record Date

If the second interim dividend is declared, it will be distributed to equity shareholders whose names are listed on the company’s Register of Members or in the Depositories’ records as beneficial owners by Friday, October 18, 2024. This is the Record Date set by TCS for this purpose, ensuring that only those listed by that time will be eligible to receive the dividend.

This move highlights TCS’s commitment to rewarding its shareholders with timely returns, continuing its tradition of offering dividends. Earlier in July 2024, TCS had already announced an interim dividend of Rs 10 per share for the financial year 2024-25 (FY25).

Board Meeting Agenda

The meeting of the Board of Directors is scheduled for Thursday, October 10, 2024. During this session, the board will review and approve the company’s audited standalone and consolidated financial results for the quarter and six-month period ending on September 30, 2024. These results will be prepared in accordance with Indian Accounting Standards (Ind AS), which have become the standard for corporate financial reporting in India.

For shareholders and market analysts, the upcoming board meeting could provide a clearer picture of TCS’s financial health and performance in the first half of FY25.

Q2 Earnings Call

TCS will also host its Q2 earnings conference call at 7:00 p.m. on October 10, 2024. This event will give analysts and investors an opportunity to ask questions and gain insights directly from the company’s leadership regarding its financial performance and future growth strategy.

Market Reaction

Following the announcement of the board meeting and potential dividend, TCS’s shares on the Bombay Stock Exchange (BSE) ended September 30, 2024, with a minor decline of 1%, closing at Rs 4,271 per share. The slight dip is typical before a significant financial announcement, as investors await more concrete financial data.

Conclusion

TCS’s upcoming board meeting on October 10, 2024, is set to be a critical event, not only for the company but also for shareholders and market observers. The potential for a second interim dividend and the release of the company’s Q2 results are expected to impact TCS’s stock performance and investor sentiment in the short term.