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Yes Securities Report
Tata Consultancy Services Ltd. reported broadly inline quarterly performance. It reported U.S. dollar revenue growth of 2.9% QoQ. However, the depreciation of Indian rupee versus U.S. dollar by around 2.9% QoQ supported the Indian rupee reported growth.
The revenue growth was led by strong performance in retail and consumer packaged goods vertical(up 18.7% YoY). There was sequential improvement in Ebit margin(up 52 basis points QoQ) led by improving employee pyramid and other efficiency measures.
Employee attrition remained high as last twelve months attrition declined by 20 bps QoQ to 21.3%. The long term demand story remains intact led by cloud adoption and data analytics across enterprises. However, there are definite signs of slowdown in deal conversion cycle on account of economic growth concerns in the U.S. and Europe.
TCS' operating margin is expected to improve in near term led by improving employee pyramid and better utilization.
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More Research Reports On TCS Q3 Results Review
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