Tata Consultancy Services Net Profit Rose in 1Q, Declares Interim Dividend -- Update

By Olivia Bugault

Tata Consultancy Services Ltd. said Thursday that its first-quarter net profit rose 28.5% from a year earlier with growth in all its industries, and said it will pay an interim dividend to its shareholders.

The Indian IT and consulting solutions company said net profit for the quarter ended June 30 rose to 90.08 billion Indian rupees ($1.20 billion) from INR70.08 billion a year earlier. Analysts had forecast net profit of INR93.37 billion according to a FactSet poll.

First-quarter revenue increased 18.5% to INR454.11 billion from INR383.22 billion a year earlier.

The company declared an interim dividend of INR7 per equity share, to be paid on Aug. 5.

Write to Olivia Bugault at [e-mail]

(END) Dow Jones Newswires

07-08-21 1003ET