TCS Q3 Review: Firm Confident Of Achieving Double Digit Growth For 2021, Says Dolat Capital  
Tata Consultancy Services building (image: Company PR)

TCS Q3 Review: Firm Confident Of Achieving Double Digit Growth For 2021, Says Dolat Capital  

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.

Dolat Capital Report

Tata Consultancy Services Ltd. reported revenue growth of 4.1% QoQ in constant currency terms (our estimate 3.2%) led by broad-based growth across verticals.

Postbank deal is not included in Q3. Operating profit margin improved by 350 basis points to 26.6% (our estimate 23.1%). Adjusted OPM improved by 42 basis points despite full quarter impact of wage hike.

Signed total contract value of $6.8 billion (banking financial services and insurance $2.6 billion, $retail 1 billion) implying 1.44 times revenue coverage on trailing twelve month basis.

The company is confident to achieve ‘double digit growth’ for CY21/FY22E as it expects cloud adoption led multi-year growth opportunity which will ensure sustained momentum.

Click on the attachment to read the full report:

Dolat Capital TCS Q3 Result Review.pdf


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