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Tata Consultancy Services Ltd. reported revenue growth of ~4% QoQ in constant currency terms (our estimate: 4.6%) owing to some softness and increased offshoring in Europe Region.
Operating profit margin improved by nine basis points QoQ to 25.6% (our estimate 25.9%) due to increased sub-con and supply side inflationary challenges.
Announced dividend per share of Rs. 7.
Total contract value wins were rather disappointing at $7.6 billion given the current robust demand environment.
The trailing twelve months TCV marginally declined to $31.7 billion with 1.3 times revenue coverage (from 1.4 times last quarter).
TCS highlighted that the miss was on account long-cycles and infrequencies of mega deals.
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