TCS share price: UBS said that the market is not completely taking into account the impact of the large deal ramp-up and scope of margin improvement through utilisation, pyramid restructuring etc.
TCS reported dollar revenue of $7,210 million, down 0.2 per cent sequentially. Constant-currency growth came in at 0.1 per cent sequentially. Analysts were expecting the growth in 0.8-1.3 per cent range.
TCS reported a 9 percent year-on-year (YoY) growth in consolidated net profit for the quarter ended September 2023 to Rs 11,342 crore. Consolidated revenue grew nearly 8 percent YoY to Rs 59,692 crore
TCS’ CC revenue growth of 0.6% was weaker than the consensus estimate of 0.9% CC growth. Margin at 24.5% was also lower than Street expectations of 25%.