TCS Q2 Review - Outlook Continues To Be Positive Backed By Execution Prowess: Axis Securities

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Axis Securities Report

Tata Consultancy Services Ltd. reported a 3.2% revenue growth QoQ in Q2 FY22 in rupee terms which was below our expectations.

The company's revenues stood at Rs 46,867 crore, up 16.8% YoY and 3.2% QoQ.

While its operating profit stood at Rs 12,000 crore, the company's operating margins expanded 10 basis points QoQ to 25.6%, led by its superior execution in the quarter.

The management commentary on the verticals banking, financial services and insurance, hi-tech media, life sciences and retail was positive and it expects TCS to report double-digit growth in FY22.

Deal-wins for the quarter continued strong and across verticals, and stood at $7.6 billion, reporting a growth of 17% YoY.

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