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Result Reviews
TCS
TCS reported its 2QFY2012 numbers, which were lower than street’s expect,
ation on the revenue front; however, the company outperformed on the
operating front. TCS reported revenue of US$2,525mn, up 4.7% qoq, on the
back of robust volume growth of 6.25% qoq. The company’s revenue was
negatively impacted by 95bp qoq due to lower price realization. In rupee
terms, revenue came in at `11,633cr, up 7.7% qoq. EBIT margin improved by
94bp qoq to 27.1%, aided by INR depreciation against USD qoq, which
absorbed the negative impact due to promotions during the quarter. PAT came
in at `2,439cr, negatively impacted by lower other income of `99.7cr as
against `289cr in 1QFY2012.
The company added 35 new clients during the quarter, of which two were
added in the US$100mn+ revenue bracket. The company closed 10 large
deals in 2QFY2012. Hiring remained robust with gross and net addition of
20,349 and 12,580 employees, respectively. Management continues to
remain with the gross hiring target of 60,000 employees for FY2012. The
company remains our top pick amongst tier-I IT companies because of its
diversified portfolio on all fronts service wise, industry exposure wise as well as
geography wise. The stock is currently under review.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Result Reviews
TCS
TCS reported its 2QFY2012 numbers, which were lower than street’s expect,
ation on the revenue front; however, the company outperformed on the
operating front. TCS reported revenue of US$2,525mn, up 4.7% qoq, on the
back of robust volume growth of 6.25% qoq. The company’s revenue was
negatively impacted by 95bp qoq due to lower price realization. In rupee
terms, revenue came in at `11,633cr, up 7.7% qoq. EBIT margin improved by
94bp qoq to 27.1%, aided by INR depreciation against USD qoq, which
absorbed the negative impact due to promotions during the quarter. PAT came
in at `2,439cr, negatively impacted by lower other income of `99.7cr as
against `289cr in 1QFY2012.
The company added 35 new clients during the quarter, of which two were
added in the US$100mn+ revenue bracket. The company closed 10 large
deals in 2QFY2012. Hiring remained robust with gross and net addition of
20,349 and 12,580 employees, respectively. Management continues to
remain with the gross hiring target of 60,000 employees for FY2012. The
company remains our top pick amongst tier-I IT companies because of its
diversified portfolio on all fronts service wise, industry exposure wise as well as
geography wise. The stock is currently under review.
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