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Prabhudas Lilladher Report
Tata Consultancy Services Ltd.'s revenue grew by up 4% QoQ constant currency lower than our (5.5%) and consensus estimates (4.5%) led by softness in life sciences and healthcare led by closure of contracts in European region.
Growth was strong in other verticals and geographies, recovery in India business was strong.
Deal total contract value of $7.6 billion was lower on QoQ and YoY basis (versus $8.1 billion in Q1 FY22 and $8.6 billion in Q2 FY21).
But TCV continues to be healthy with growth of 25% YoY excluding the mega deal of $2.5 billion won in Q2 FY21.
Deal TCV is heterogeneous mix of all type of deals from small to large size and several new deal wins were driven by TCS's innovative products and platforms.
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