TCS Q3 net rises 12% to Rs 9,769 cr, announces Rs 18,000-cr share buyback

TCS board has recommended a buyback of shares to the tune of Rs 18,000 cr at Rs 4,500 per share

IT major Tata Consultancy Services (TCS) on Wednesday reported 12% jump in consolidated net profit at Rs 9,769 crore for the quarter ending December 2021. It was Rs 8,701 crore a year ago.

The Mumbai-headquartered company also announced share buyback to the tune of Rs 18,000 crore at Rs 4,500 per share. 

The company also announced dividend of Rs 7 per share.

Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “Our continued growth momentum is a validation of our collaborative, inside-out approach to our customers’ business transformation needs. Customers love our engagement model, our end-to-end capability, and our