TCS - Q2FY21 Result - Angel Broking

Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd

"TCS reported a 7.2% qoq growth in revenues to USD 5.42bn which was significantly ahead of street estimates. In rupee terms revenue grew by 4.7% qoq to ₹40,135 crore. Gross profit for the quarter was up 8.7% qoq to ₹ 16,420 crore while gross margins expanded by ~150bps qoq to 40.9%. EBIT for the quarter registered a growth of 16.2% qoq to ₹10,515 crore while EBIT margins expanded by ~260 bps qoq to 26.2% while. Net profit for the quarter excluding legal claim provisions was up by 20.3% qoq to ₹8,433 crore. The Q2FY21 numbers were well above street expectations on all counts, while new deal wins remained strong at USD 8.6bn for the quarter which was a key positive. We believe that the TCS numbers will be well received by the markets and will be positive for the entire IT sector."

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2737.4 as compared to the previous close of Rs. 2716.15. The total number of shares traded during the day was 277896 in over 19870 trades.

The stock hit an intraday high of Rs. 2769 and intraday low of 2703. The net turnover during the day was Rs. 758445543.

Source : Equity Bulls

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