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TCS Q2 Review - Outlook Continues To Be Positive Backed By Execution Prowess: Axis Securities

TCS Q2 Review - Outlook Continues To Be Positive Backed By Execution Prowess: Axis Securities



A pedestrians walks along an underpass near a Tata Consultancy Services Ltd. (TCS) building in the Electronics City area of Bengaluru. (Photographer: Dhiraj Singh/Bloomberg)
A pedestrians walks along an underpass near a Tata Consultancy Services Ltd. (TCS) building in the Electronics City area of Bengaluru. (Photographer: Dhiraj Singh/Bloomberg)

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.

Axis Securities Report

Tata Consultancy Services Ltd. reported a 3.2% revenue growth QoQ in Q2 FY22 in rupee terms which was below our expectations.

The company’s revenues stood at Rs 46,867 crore, up 16.8% YoY and 3.2% QoQ.

While its operating profit stood at Rs 12,000 crore, the company’s operating margins expanded 10 basis points QoQ to 25.6%, led by its superior execution in the quarter.

The management commentary on the verticals banking, financial services and insurance, hi-tech media, life sciences and retail was positive and it expects TCS to report double-digit growth in FY22.

Deal-wins for the quarter continued strong and across verticals, and stood at $7.6 billion, reporting a growth of 17% YoY.

Click on the attachment to read the full report:

Axis Securities TCS-Q2FY22-ResultUpdate.pdf

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