Mumbai, Aug. 12: Tata Consultancy Services Ltd today declared a 30 per cent interim dividend, or Rs 3 per share with a face value of Rs 10 each.

The company has declared the dividend on the back of an encouraging performance during the first quarter ended June 30. The company has posted a net profit of Rs 578.86 crore against a net loss was of Rs 5.27 crore in the corresponding period last year.

Earlier, TCS had announced the merger of Tata Infotech Ltd with itself. According to the terms of the merger scheme, shareholders of Tata Infotech would receive one share of TCS for every two of Tata Infotech held.

Hinduja TMT

Hinduja TMT, the information technology flagship of the Hinduja group, has relocated its managing director cum chief operating officer K. Thiagarajan to Bangalore.

He was earlier based in Mumbai.

Thiagarajan has been moved to Bangalore so that he can be closer to operations and the large employee base of the company there.