Buy Tata Consultancy Services; target of Rs 3915: KR Choksey

Jul 16 2023 11:26 AM IST
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TCS revenue for Q1FY24 stood at INR 5,93,810 mn as against INr 5,27,580 mn, registering a growth of 12.6% on a YoY basis. Revenue in dollar terms stood at USD 7226 mn as against USD 6780 mn. EBIT for the quarter came at INr 1,37,550 mn and declined by 5.0% on QoQ basis.
Buy Tata Consultancy Services; target of Rs 3915: KR Choksey

TCS revenue for Q1FY24 stood at INR 5,93,810 mn as against INR 5,27,580 mn, registering a growth of 12.6% on a YoY basis and increased marginally by 0.4% on a QoQ basis from INR 5,91,620 mn. Revenue in dollar terms stood at USD 7226 mn as against USD 6780 mn, registering a growth of 6.6% on a YoY basis and remaining subdued on a QoQ basis. EBIT for the quarter came at INR 1,37,550 mn as against INR 1,21,860 mn, showing an improvement of 12.9% on a YoY basis and declining by 5.0% on a QoQ basis from INR 1,44,800 mn. Operating margins showed an improvement of 6 bps on a YoY basis and declined by 132 bps on a QoQ basis. Profit for Q1FY24 registered a growth of 16.8% on a YoY basis to INR 1,11,200 mn as against INR 95,190 mn in Q1FY23 and declined by 2.8% from INR 1,14,360 mn. PAT margin for Q1FY24 stood at 18.7%, registering an improvement of 70 bps on a YoY basis and a decline of 60 bps on a sequential basis.

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