TCS Q1 Review - Healthy Deal Wins A Key Positive: ICICI Direct
Tata Consultancy Services Building (Source: Company PR)

TCS Q1 Review - Healthy Deal Wins A Key Positive: ICICI Direct

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BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Tata Consultancy Services Ltd. reported Q1 FY22 results.

U.S. dollar revenues grew 2.4% QoQ to $6,154 million. Ebit margins declined 133 basis points QoQ to 25.5%.

The company’s deal pipeline continues to be healthy at $8.1 billion.

Key takeaways -

  • The current quarter was impacted by India revenues. We expect a gradual recovery in revenues in coming quarters.

  • Demand in core transformation services and traction in digital tech like cloud, supply chain, merger and acquisition and customer experience are other key drivers.

  • Robust addition across client bucket. Added two clients in $100 million bucket and four in $50 million representing healthy client mining.

  • Of the total contract value, North America accounted for $3.5 billion among geographies while vertically $1.5 billion in retail.

Click on the attachment to read the full report:

ICICI Direct TCS Q1FY22 Results Update.pdf

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