TCS Q2 Review - Resilient Margins: IDBI Capital
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IDBI Capital Report
Tata Consultancy Services Ltd. reported Q2 FY22 revenue growth of 4%/15.5%, QoQ/YoY in constant currency and up 2.9%/up 16.8% QoQ/YoY in U.S. dollar terms, a slight miss to our estimate.
Ebit margin improved by 10 basis points QoQ to 25.6%. Earnings per share of Rs 26, up 6.8%/up 18% QoQ/YoY.
TCS has continued to maintain its deal win momentum and has secured deals with total contract value of $7.6 billion versus $8.1 billion QoQ.
The company continue to maintain its positive outlook and we believe it will be able to achieve its double digit revenue growth in FY22.
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