Tata Consultancy Services Ltd's Q2FY17 consolidated net profit rises 4.27% qoq to Rs.6,587 crore

India Infoline Research Team | October 13, 2016 17:00 IST

Tata Consultancy Services Ltd Q2FY17

Consolidated Results Q2FY17: (Rs. in crore)

Reported Results QoQ (%)
Revenue 29,284 [0.1]
EDITDA 8,113 3.5
EBITDA Margin 27.7% 96 bps
Net Profit (adjusted) 6,587 4.3

TCS’s top-line performance for Q2FY17 was below market expectations while the company outperformed at the EBITDA as well as on the bottom-line front.

The consolidated net revenue for the quarter declined by 0.1% QoQ to Rs. 29,284 cr due to the tightening of IT budgets in BFSI.

Whereas, the consolidated EBITDA grew by 3.6% QoQ to Rs. 8,113 cr. The EBITDA margin improved by 96 bps QoQ due to rationalization of expenses. The consolidated EBITDA margin for Q2FY17 stood at 27.7% against 26.7% of previous quarter.

The consolidated net profit grew 4.3% QoQ to Rs. 6,586 cr against Rs. 6,317 cr of last quarter.

Technical View:

TCS's shares closed at Rs. 2330, down by 50.1 points or 2.1% from its previous closing of Rs. 2380.1 on the BSE.
The scrip opened at Rs. 2355 and touched a high and low of Rs. 2367.85 and Rs. 2323.25 respectively. So far 2416375(NSE+BSE) shares were traded on the counter. The stock is currently trading above its 100 DMA.

BSE 2,428.70 28.85 (1.20%)
NSE 2,428.65 27.50 (1.15%)

***Note: This is a NSE Chart



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