Tata Consultancy Services on Thursday reported a 15 per cent rise in its second-quarter net profit. Profit after tax stood at Rs 13,884 crore. Revenue grew 11.2 per cent to Rs 73,188 crore.

The country’s largest IT firm also declared an interim dividend of Rs 12 per share. The record date is October 14 and payment will be made on October 30. The board said deal wins stayed strong through the quarter.

TCS said its AI-led services earned 3.1 billion dollars in revenue. Total contract value for the quarter was 9.6 billion dollars. New deals included wins with Porsche’s MHP unit and US retailer Best Buy.

Company executives said demand from banking and retail clients is improving. They added that clients are spending more on artificial intelligence projects. Margins improved on the back of better productivity and a stable currency. The firm remains cautious on Europe but upbeat on North America.