Companies

Tata Consultancy Services Q3 results on January 17

Rajesh Kurup Mumbai | Updated on January 10, 2020 Published on January 10, 2020

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IT bellwether Tata Consultancy Services (TCS) has convened its board meeting on January 17 to take on record its third-quarter results.

The board meeting is to take on record the audited financial results of the company under Indian Accounting Standards for the quarter and nine months ended December 31, 2019, and consider declaration, TCS said in a regulatory filing.

The date for TCS’ board meeting to was to be decided only after clarity emerges on the status of Cyrus Mistry’s directorship with the company, and its petitions filed before the Supreme Court, sources close to the development had told BusinessLine.

Also Read: TCS Board meet to take on record Q3 earnings only after SC hearing

On Friday, the Supreme Court stayed an earlier National Company Law Appellate Tribunal (NCLAT) order to reinstate Cyrus Mistry as chairman of Tata Sons and director with TCS.

“TCS, which moved Supreme Court last week, has a sought to set aside the NCLAT ruling to reinstate Cyrus Mistry as a director on its board. On the directorship, TCS needs clarity, following which it would conduct the board meeting,” the above mentioned source said.

Read: SC stays NCLAT order restoring Cyrus Mistry as Executive Chairman of Tata Group

“TCS is hopeful of getting a stay on its petition filed before Supreme Court,” he added.

This is despite Cyrus Mistry, the ousted chairman of Tata Sons who has won an order in his favour to be reinstated, stating he would not seek a director seat on board of TCS or other Tata firms.

On Friday, Mistry’s lawyers also informed the Supreme Court that Mistry was not interested in pursuing chaírmanship of Tata Sons and directorship at various group firms.

IT bellwether TCS has been kick-starting the earning season for the past two years, but this time Infosys became the first by announcing its Q3 on Friday.

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Published on January 10, 2020
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