TCS stock slips despite good Q2FY19 numbers

The company’s PAT increased 7.6% qoq to Rs7,901cr against median consensus estimates of Rs7,854cr.

Oct 12, 2018 06:10 IST India Infoline News Service

Tata-Consultancy-Services1
Shares of Tata Consultancy Services (TCS) slipped over 1% on the NSE despite of reporting better than expected numbers for Q2FY19 on all fronts.

The company’s PAT increased 7.6% qoq to Rs7,901cr against median consensus estimates of Rs7,854cr.

Revenue in rupee terms grew by 7.6% qoq to Rs36,854cr, higher than median consensus estimates of Rs36,501cr.

Constant currency (cc) revenue rose 3.7% qoq and USD revenue increased 3.2% qoq at $5,215mn.

EBIT stood at Rs9,771cr, up 13.9% qoq against the median consensus estimate of Rs9,633cr, EBIT margin expanded by 148bps qoq to 26.5%. 

The company said it is confident of ending FY19 with double-digit growth and enter the next financial year with strong growth momentum, as a slew of large deal wins boosted the IT player’s second-quarter results.

Tata Consultancy Services Ltd is currently trading at Rs1,912.50 down by Rs67.25 or 3.4% from its previous closing of Rs1,979.75 on the BSE.
The scrip opened at Rs1,990 and has touched a high and low of Rs1,990 and Rs1,904.80 respectively. 

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