TCS Q2 Results Review - Tough Phase, Balancing Growth, Margins: PL Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..PL Capital Report.Tata Consultancy Services Ltd. reported revenue of $7.7 billion, up ~1.1% QoQ constant currency below our and consensus estimate of 1.5% and 1.3% QoQ CC growth respectively while in dollar terms the revenue grew by 2.2% QoQ (our estimate: 2.3% & consensus estimate of 1.9% QoQ growth). The growth during the quarter was largely driven by Regional market, predominantly the BSNL deal that is at its peak (~150 bps contribution in Q2 per our estimates). Green shoots continued in BFSI, while growth within certain pockets remained volatile, partly attributed to work re-scoping and weak spending sentiment. Ebit margin declined by 60 bps QoQ to 24.1%, on account of higher third-party expenses and inching-up subcon cost, which partly offset by currency tailwinds and missing Q1 wage hike impact. Total contract value grew by 3.6% QoQ to $8.6 billion and BTB remained stable at 1.1 times..Click on the attachment to read the full report:.TCS Q2 Results Review - BFSI Recovery, Hiring Continue To Be On Track: ICICI Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

TCS Q2 Results Review - Tough Phase, Balancing Growth, Margins: PL Capital

BFSI vertical on a path of recovery, but performance of other verticals remains volatile, says the brokerage.

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TCS Q2 Results Review - Tough Phase, Balancing Growth, Margins: PL Capital

BFSI vertical on a path of recovery, but performance of other verticals remains volatile, says the brokerage.

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