Gold Silver Reports (GSR) – TCS Rises On Reporting Strong Earnings In March Quarter — Shares of the country’s largest IT outsourcing firm rose as much as 4.25 percent to record high of Rs 3,326 after it beat consensus estimates in March quarter.
Tata Consultancy Services Ltd. reported higher-than-estimated profit in the March-ended quarter as its core banking and financial services vertical started to recover.
Net profit rose 5.7 percent to Rs 6,904 crore compared with the previous quarter, TCS said in a stock exchange filing. That compared with the consensus estimate of Rs 6,810 crore.
✅ Revenue rose 3.8 percent over the previous quarter to Rs 32,705 crore.
✅ Earnings before interest and taxes rose 5 percent to Rs 8,147 crore.
✅ Operating margin expanded to 25.4 percent from 25.2 percent.
✅ Dollar revenue rose 3.9 percent to $4.97 billion quarter-on-quarter.
✅ TCS expects margin to remain 26-28 percent in the year through March 2019.
✅ It targets a dollar revenue growth of 10 percent for the year.
✅ The company’s board announced a bonus issue in ratio of one bonus share for every one share held and also approved a final dividend of Rs 29 per share.
