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IDBI Capital Report
Tata Consultancy Services Ltd. reported a second consecutive stellar performance in Q3 FY21 with a beat across the board versus our forecast.
Revenue grew by 4.1% in constant currency terms (best QoQ growth in Q3 in nine years) and Ebit margin saw an improvement of 40 basis points QoQ to 26.6% (a 20 quarter high).
Earning per share of Rs 23.2 grew by up 5.4%/up 7.2% QoQ/YoY.
In Q3 FY21, TCS has secured deals with a total contract value of 6.8 billion U.S. dollar (excluding the Postbank Systems deal).
The company has maintained its positive outlook and is confident of achieving double-digit YoY revenue growth in CC for FY22.
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