The record dividend for the third consecutive quarter is in addition to Rs 7 per share given for the second and first quarters in October and July, taking the cumulative payout to Rs 21 per share or a whopping 2,100 per cent till December 31, 2017. "We signed our first $50 million-plus deal in digital this quarter, crossing an important milestone in the mainstreaming of digital technologies", he added.
Consolidated net profit for the quarter ended in December fell 3.6% to 65.31 billion rupees ($1.03 billion) from 67.78 billion rupees a year earlier.
Other segments such as energy and utilities also performed well.
Digital revenue, which formed 22.1 per cent of total revenue for the quarter, was up 39.6 per cent year-on-year and up 13.9 per cent quarter-on-quarter. "The reduction in IT spending is expected to continue for 3Q FY18 as well, primarily due to the challenges faced by BFSI and Retail sectors in the North American region, whereas Manufacturing and Healthcare sectors are expect to see some improvement due to strong adoption of digital services", the brokerage house said in its report.
"Progressive organisations looking to take advantage of new opportunities in the Business 4.0 era are ramping up their Digital investments, and TCS has emerged as their preferred transformational partner".
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China, however, placed a large order for 140 Airbus jets during a visit to Germany by Xi last July. That same year, Xu became party secretary of the Tianjin Youth League.
In dollar terms under the International Financial Reporting Standards, net income at $1,012 million is 1.2 per cent up annually and 1.1 per cent up quarterly, while revenue grew 9.1 per cent annually but flat (1 per cent) quarterly at $4,787 million.
It expects HCL Technologies and Tech Mahindra to lead the pack with 2.7 percent and 1.7 percent QoQ USD revenue growth, respectively, Infosys, Wipro and TCS are estimated to grow at a slower pace of 1.4 percent, 1.4 percent and 0.7 percent, respectively. The fast growing, high margin digital revenues today stand at 22.1 per cent accounting for more than United States dollars 4 billion in revenues, which is a growth of almost 40 per cent, year on year. On yearly basis, the continental Europe grew by a whopping 22.3%, United Kingdom by 8.2% and India also performed well by 4.1%, while North America grew by 2.8% yoy. "TCS is proud to partner with Transamerica in its ongoing transformation to enhance its customer experience, and looks forward to welcoming their current employees for new careers at TCS". "We are well placed for stronger growth ahead", Chief Executive Rajesh Gopinathan said in a statement.
The contract, which entails transforming Transamerica's USA insurance and annuity business lines, comes close on the heels of a mega deal TCS had clinched from television rating measurement firm Nielsen.
At 1:43 pm, shares in TCS were trading 0.80 per cent lower at Rs 2,766 on the BSE, whose benchmark Sensex index was down 5 points at 34,498.