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IDBI Capital Report
Tata Consultancy Services Ltd. reported a third consecutive quarter of all-round performance in Q4 FY21.
Revenue grew by 4.2% QoQ in constant currency (third consecutive quarter of 4% plus QoQ growth), higher than our forecast of up 3%.
However, Ebit margin improvement of ~20 basis points QoQ to 26.8% was slightly lower than our forecast of 27.3%.
In Q4 FY21, the company has secured deals with an all-time high total contract of $9.2 billion taking the FY21 TCV to $31.6 billion, up 17% YoY.
The company has maintained its positive outlook and is confident of achieving a double-digit YoY revenue growth in CC for FY22.
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