TCS dips 2% as Q3 profit misses estimates; board okays Rs 75/sh dividend

Moderation of attrition is a positive and indicates easing of supply side challenges, which is likely to support margins, going ahead, ICICI Securities said in its note.

Shares of Tata Consultancy Services (TCS) were down 2 per cent at Rs 3,242 on the BSE in Tuesdays’ intra-day trade after the information technology (IT) major reported 11 per cent year-on-year (YoY) growth in net profit at Rs 10,846 crore for the quarter ended December 2022 (Q3FY23). Revenue for the quarter came in at Rs 58,229 crore, up 19.1 per cent YoY in reported terms and 13.5 per cent YoY in constant currency (CC) terms.

Sequentially, TCS’s revenue was up 5.2 per cent. The company reported 2.2 per cent quarter on quarter (QoQ) CC growth for Q3 while