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Management Comments of TCS on Q3FY19 Results

Posted On: 2019-01-10 18:23:10

Commenting on the Q3 performance, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: "We are wrapping up 2018 with a strong revenue growth of 12.1% in the December quarter, which is the highest in 14 quarters, with continued growth acceleration in key verticals and across all geographies. The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are all validations that customers recognize our differentiated capabilities and are picking us for their growth and transformation programs."

He added: "On a secular basis, as large segments of the economy go through churn driven by digital disruption, enterprises are responding with technology-powered strategies - as in algorithmic retailing or connected cars - creating a huge oppprtunity for services providers like us. Our investments in research and innovation, our deep domain and contextual knowledge, intellectual property and our collaborative approach to co-innovation, have been key to our participation in this opportunity. This quarter, we launched a new brand, TCS PaceT", embodying these capabilities and offering our customers a line of sight to success in a Business 4.0 world."

N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: "This has been a very satisfactory quarter in terms of revenue growth as well tis operating metrics. The investments that we have been making in building newer capabilities and frameworks are starting to bear fruit. Our location independent Agile methodology and Machine First™ approach have been key in helping us advance CEO-level enterprise transformation agendas."

V Ramakrishnan, Chief Financial Officer, said: "Despite headwinds from the Rupee volatility against various currencies, and the higher cost of doing business in some major markets, our operating margins have been resilient. We remain focused on driving rigor in our operations, generating strong cash flows and steering profitability back to our preferred range, while continuing to invest strongly for future growth."

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.1888.15 as compared to the previous close of Rs. 1887.8. The total number of shares traded during the day was 157549 in over 8638 trades.

The stock hit an intraday high of Rs. 1906.8 and intraday low of 1874.1. The net turnover during the day was Rs. 298307250.


Source: Equity Bulls

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