TCS Q3 net profit jumps 12.27% to Rs crore 9,769 crore; buyback plan worth Rs 18,000 crore approved

NEW DELHI: India’s largest software program providers agency Tata Consultancy Companies (TCS) on Wednesday reported 12.27 per cent rise in consolidated internet revenue for the third quarter (Q3) ended December 31, 2021.
The corporate had posted a internet revenue of Rs 8,701 crore in the identical interval final yr.
By way of quarter-on-quarter progress, TCS internet revenue jumped 1.5 per cent from Rs 9,624 crore posted in earlier quarter ended September 30, 2021.
The corporate’s board additionally authorized a buyback plan price Rs 18,000 crore for its shareholders at Rs 4,500 per scrip.
TCS’ earlier buyback supply of round Rs 16,000 crore had opened on December 18, 2020, and closed on January 1, 2021. Over 5.33 crore fairness shares have been purchased again below the supply for Rs 3,000 apiece.
In 2018, TCS had undertaken a share buyback programme price as much as Rs 16,000 crore. The buyback, at Rs 2,100 per fairness share, had entailed as much as 7.61 crore shares. In 2017 too, TCS had taken an analogous share buy programme.
Shares of the corporate closed 1.5 per cent decrease at Rs 3,857 on each BSE and NSE.