TCS Q1 Review – Result Inline; Commentary Stays Confident On Sustained Traction: Dolat Capital

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Tata Consultancy Services Ltd. reported revenue growth of 2.4% QoQ in constant currency terms (our estimate: 2.9%) led by broad-based growth across verticals except regional markets wherein revenues declined due to postponement of deal execution.

Operating profit margin declined by 133 basis points QoQ to 25.5% (our estimate:25.5%) on account of wage hikes and gradual normalisation in discretionary under selling, general and administrative.

Announced dividend of Rs 7 per share.

Signed strong deal total contract value wins worth $8.1 billion (up 17% YoY) taking trailing twelve months TCV to $32.7 billion implying 1.41 times revenue coverage.

The strong revenue coverage is also led by higher share of cloud based transformation deals that have slightly longer tenor.

Click on the attachment to read the full report:

Dolat Capital TCS Q1FY22 Result Update.pdf


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