Motilal Oswal: TCS Posts Above Estimates Q2 Results; Better-Than-Expected Recovery

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Tata Consultancy Services Ltd. impressed with revenue growth of 4.8% QoQ constant currency terms (versus estimate of 2.5% QoQ CC), coupled with Ebit margin expansion of 260 basis point QoQ (versus estimate of 120 basis point QoQ).Broad-based growth across geographies and verticals indicates healthy recovery across segments.The company reported very strong deal wins of $8.6 billion.A healthy deal pipeline, continued healthy cash conversion (operating cash flow/profit after tax of 126%), and reduced attrition have also been encouraging.We expect TCS to be relatively better positioned (versus the sector) to navigate the current challenges and continue to gain market share from smaller players in vendor consolidation deals..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BloombergQuint 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 brokerage and do not represent the views of BloombergQuint..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Motilal Oswal: TCS Posts Above Estimates Q2 Results; Better-Than-Expected Recovery

Motilal Oswal: TCS Posts Above Estimates Q2 Results; Better-Than-Expected Recovery

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