TCS reported a mixed set of numbers for Q4FY19 with marginal miss coming on margin front. Further, INR revenue grew by 1.8% qoq to Rs38,010cr, which is higher than median consensus estimates of Rs37,841cr. Constant currency (cc) revenue grew by 2.4% qoq and dollar revenue came in at USD5,397mn (+2.8% qoq). EBIT stood at Rs9,537cr, down 0.3% qoq against median consensus estimate of Rs9,683cr. EBIT margin contracted by 52bps qoq to 25.1%. PAT grew by 0.3% qoq to Rs8,126cr against median consensus estimates of Rs7,980cr.
Revenue growth continued to accelerate in BFSI, crossing over into double digits (+11.6% yoy cc vs. +8.6% in 03).
Growth was broad based, with most verticals showing strong growth: Life Sciences & Healthcare (+18.2% yoy cc), Energy & Utilities (+11.3% yoy cc), Communications & Media (+10% yoy cc), Retail & CPG (+9.9% yoy cc) and Manufacturing (+9.2% yoy cc).
All major markets showed strong growth momentum. Growth was led by UK (+21.3% yoy cc) and Europe (+17.5% yoy cc).
Other markets continued to grow well: North America (+9.9% yoy cc), Asia Pacific (+11.5%), India (+11.3% yoy cc) and Latin America +16.2% yoy cc.
Digital revenues grew by 46.4% yoy cc and now account for 31% of overall revenues.
Tata Consultancy Services Ltd ended at Rs. 2,013.75, down by 5.3 points or 0.26% from its previous closing of Rs. 2,019.05 on the BSE.
The scrip opened at Rs. 2,040 and touched a high and low of Rs. 2,040 and Rs. 2,008.05 respectively. A total of 33,63,284 (NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.
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