*Tata Consultancy Services ltd.* | *CMP* Rs. 2218 | *M Cap* Rs. 832279 Cr | *52 W H/L* 2286/1811
(Nirmal Bang Retail Research)
*Result marginally below expectation*
CC yoY growth came at 6.8% vs expectation of 6.9%, QoQ 8.4%, YoY 12.1% CC qoq growth came at 0.3% v/s expectation of 0.9%
Dollar revenue came at $ 5586 Mn vs expectation of $ 5598.1 Mn, QoQ $ 5517 Mn, YoY $ 5250 Mn
Net sales came at Rs. 39854 Cr (2.3% QoQ, 6.7% YoY) vs expectation of Rs. 39835.7 Cr, QoQ Rs. 38977 Cr, YoY Rs. 37338 Cr
EBIT came at Rs. 9974 Cr (6.5% QoQ, 4.3% YoY) vs expectation of Rs. 9760.3 Cr, QoQ Rs. 9361 Cr, YoY Rs. 9564 Cr
EBIT Margin came at 25% vs expectation of 24.5%, QoQ 24%, YoY 25.6%
Adj. PAT came at Rs. 8143 Cr vs expectation of Rs. 8189.1 Cr, QoQ Rs. 8042 Cr, YoY Rs. 8105 Cr
Quarter EPS is Rs. 21.7
Stock is trading at P/E of 25.4x FY20E EPS