Tata Consultancy Services Ltd Q2FY17
Consolidated Results Q2FY17: (Rs. in crore)
|Reported Results||QoQ (%)|
|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.
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%)
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