TCS Q4 Review - Commentary Stays Confident On Sustained Traction: Dolat Capital
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Dolat Capital Report
Tata Consultancy Services Ltd. reported revenue growth of 4.2% QoQ in constant currency terms (our estimate 4.3%) led by broad-based growth across verticals.
Operating profit margin improved by 23 basis points QoQ to 26.8% (our estimate 26.5%) led by sustained cost savings in selling general and administrative.
Announced final dividend of Rs 15 per share.
Signed highest ever total contract value of $9.2 billion (banking financial services and insurance $3.9 billion, retail $1.4 billion) taking trailing twelve months TCV to $31.5 billion implying 1.42 times revenue coverage.
TCV in Q4 witnessed higher closure of small deals (largest deal was $0.5 billion).
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