TCS Q3 Results Review - Steady Performance In Seasonally Weak Quarter: ICICI Direct

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .ICICI Direct Report.Tata Consultancy Services Ltd. reported 2.2% QoQ, 13.5% YoY constant currency revenue growth in the furlough impacted quarter. The company indicated that the impact of furlough was comparable to the previous year and did not experience higher than expected furlough impact. In dollar terms, the company reported revenues of $7,075 million, up 2.9% QoQ and 8.4% YoY. In rupee terms, TCS reported revenue of Rs 58,229 crore, up 5.3% QoQ and 19.1% YoY.Ebit margin for the quarter improved ~50 basis points QoQ to 24.5% while Ebit increased 7.6% QoQ to Rs 14,284 crore. The company indicated tailwinds for the margin improvement were currency benefit (up 70 bps), (up 30 bps) came in due to improved utilisation and lower sub-contractor cost while headwinds included ~50 bps increase in third party cost for hardware and software and increase in travel and facility expenses on account of normalisation of expenses. TCS also mentioned that deal total contract value and deal pipeline, continue to be skewed towards cost take out deals and it continues to win such deals.The company declared an interim dividend of Rs 75/share including special dividend of Rs 67/share. It also mentioned that it is committed to give 80- 100% of free cash flow to shareholders..Click on the attachment to read the full report:.TCS Growth May Moderate In Second Half Of FY23 On Macro Woes, Say Analysts.More Research Reports On TCS Q3 FY23 Results Review.Inline; Concerns Regarding Near Term Demand Environment: Yes SecuritiesMixed Results; Rising Near Term Uncertainty: Dolat CapitalIn A Sweet Spot To Maneuver Macros: IDBI CapitalGood Growth, Deal Wins To Drive Performance: Motilal OswalGrowth Normalisation Ahead: HDFC Securities Revenue Growth Remains Strong As Margins Improve: Centrum Broking.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

TCS Q3 Results Review - Steady Performance In Seasonally Weak Quarter: ICICI Direct

In dollar terms, the company reported revenues of $7,075 million, up 2.9% QoQ and 8.4% YoY.

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