INSUBCONTINENT EXCLUSIVE:
New Delhi: India's largest software services firm Tata Consultancy Services (TCS) on Friday said it will announce its fourth-quarter and
FY20 results on April 16.
"a meeting of the Board of Directors of TCS Ltd is scheduled to be held on Thursday, April 16, 2020, inter alia to
approvethe audited financial results of the company under Indian Accounting Standards (Ind AS) for the year ended March 31, 2020," TCS said
in a regulatory filing.
The board will also recommend a final dividend, if any, for the fiscal for the approval of the shareholders at the
ensuing 25th Annual General Meeting, it added.
TCS' smaller rival Wipro will announce its fourth quarter and FY20 earnings on April
15.
There are speculations that companies could look at delaying their March quarter earnings announcements, given the ongoing lockdown
following coronavirus outbreak.
Markets regulator Sebi has also given relaxation of 45 days to companies for filing fourth-quarter results
and one-month extension to file results for 2019-20.
Besides, relaxation of one month has been given for filing quarterly corporate
governance reports and three weeks each for shareholding pattern and statement of investor complaint reports.
Operations of businesses
across the world have been impacted by the coronavirus outbreak that has claimed thousands of lives.
In India, 206 deaths have been
reported, while there were 6,039 cases of COVID-19.
The government, on March 24, had announced a complete lockdown in the country for 21
days to contain the spread of coronavirus infection.
Most individuals have been asked to work from home to ensure business continuity and
only skeletal staff has been allowed to be on-premises to run critical operations at IT and IT-enabled services organisations.
