TCS Q1 results: TCS Beats Estimates, Hits Record High on Intraday Today
TCS profit in the Q1 results beats the Market estimates as recovery in its banking vertical and North American business bounce back.
The results hits the TCS Share price Record high on Intraday on the next day of result announcement.
The positive Q1 TCS results boost the share price on the upside by 104.50 points with 5.59% increase in the entire day trade. The TCS share priced closed at 1,979.90 today, July 11.
Tata Consultancy Services has shown profit growth of 6.8 percent and revenue growth of 6.8 percent. It has reported profit of Rs 7,340 crore beat the previous quarter the profit Rs 6,904. The revenue increased from previous quarter of Rs 32,075 crore to Rs 34,261 crore. Earning per share (EPS) went to nearly 19.17, up by 25.1 percent YoY.
TCS, Chief Executive Officer (CEO), Rajesh Gopinathan said, “Our banking verticals recovered very nicely this quarter, while other industry vertical maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, we are positioned well for the future.”
He also added, “Digital business contributed 25 percent to the overall revenue and grew a whopping 44.8 percent YoY.”
India’s largest software services provider bagged two new clients in $100Million+ band and 13 more clients were added in $5Million+ band sequently.
The total attrition rate is marked at 10.9 percent in the Q1 result 2018. A slight recovery from 11 percent in the previous quarter. Total 400,875 employees recorded at the end of Q1.
The women employment in the workforce has be increased to 35.6 percent and the total number of nationalities increased to 143.
CLSA maintained a buy call on TCS. They said, “Stellar first quarter performance beats on all metrics. US, BFSI and retail segment rebound during the quarter. Strong deal wins continued with total TCV of $4.9 billions and margins were also ahead despite wage hikes and large deal on-boarding. TCS lived upto its promise of growth recovery in BFSI.”