9 Oct 2023 , 10:50 AM
Result date: October 11, 2023
Recommendation: Buy
Target price: Rs 3,800
Analysts at IIFL Capital Services are forecasting revenue growth of 1.2% cc QoQ in Q2, as ramp-up of previously-won deals is partially offset by continued weakness in discretionary spend. Margins should expand 80 basis points sequentially, due to the absence of visa costs and continued easing supply side. They expect deal wins to remain strong, driven by the large cost takeout deals.
The company’s Profit After Tax (PAT) is estimated to grow by 3.8% sequentially.
Important management insights to watch out for:
September 2023 estimates |
QoQ change |
YoY change |
|
Revenue (US$ mn) |
7,288 |
0.9% |
6.0% |
Revenue (Rs. mn) |
602,683 |
1.5% |
9.0% |
EBIT (Rs. mn) |
144,434 |
5.0% |
8.8% |
EBIT margin |
24.0% |
80 bps |
– |
Profit After Tax (Rs. mn) |
114,978 |
3.8% |
10.2% |
EPS (Rs.) |
31.4 |
3.8% |
10.2% |
Source: IIFL Research
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