INSUBCONTINENT EXCLUSIVE:
Tata Consultancy Services (TCS) shares fell nearly per cent on Wednesday, a day after the country's
largest IT services exporter kicked off the earnings season by reporting a profit of 8,131 crore in the quarter ended June 30
TCS shares fell 2.87 per cent during the session to an intraday low of Rs 2,070.10 on the Bombay Stock Exchange (BSE)
On the National Stock Exchange (NSE), the TCS stock dropped to as much as Rs 2,071.30, marking a decline of 2.91 per cent compared to its
Here are 10 things to know about TCS' earnings and share price today:After market hours on Tuesday, TCS reported a net profit
of Rs 8,131 crore in the quarter ended June 30, 2019 beating analysts' estimates.The net profit rose 0.06 per cent on a quarter-on-quarter
basis.The IT major said its revenue increased to Rs
38,172 crore in the first quarter of the current financial year - an increase of 0.43 per cent over the previous quarter.Analysts said that
the company's Q1 revenue, however, missed their expectations."Tata Consultancy Services (TCS) first quarter revenue growth was a miss to
our forecast, while EBIT margin and EPS were in-line with our forecast," Urmil Shah, research analyst at IDBI Capita, said in a note."We
factor first quarter revenue miss and fine-tune our forecast
We now forecast US dollar revenue growth at 10 per cent and earnings per share growth at 9.1 per cent over FY19-21 that is outperforming
We also fine-tune our target price to Rs 2,195 (versus Rs 2,228 earlier) based on 22 times FY 21 earnings," he added.TCS said its operating
profit margin stood at 24.2 per cent, while net margin was at 21.3 per cent.The company's digital revenue, which contributes 32.2 per cent
to its total revenue, grew 42.1 per cent compared to the corresponding period a year ago."We have had a steady start to the new fiscal year
We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal
pipeline this quarter," said TCS CEO and managing director Rajesh Gopinathan said in the company's regulatory filing.At 1:33 pm, TCS
shares traded 0.96 per cent lower at Rs 2,111 apiece on the BSE, underperforming the Sensex benchmark index which was down 0.22 per cent.Get
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