After dismal June quarter numbers\, TCS gives high hopes to investors

After dismal June quarter numbers, TCS gives high hopes to investors

While revenue fell by 6.3% in CC, pre-tax profit down by 10.7%, management believes things have bottomed out in Q1.

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Tata Consultancy Services TCS | TCS | TCS Q1 result

Shreepad S Aute 

While Tata Consultancy Services (TCS’) June 2020 quarter (Q1) numbers did not meet the Street’s expectations, it surely set high hopes for investors. While in Q1, TCS’ revenues inched up by 0.4 per cent year-on-year to Rs 38,322 crore, its profit before tax declined by 10.7 per cent year-on-year to Rs 9,504 crore.

Analysts had pegged these two figures at Rs 38,865 crore and Rs 9,998.7 crore, respectively, as per the Bloomberg poll. In constant currency (CC) terms, TCS’ revenue was down by 6.3 per cent and was also weaker than 5-6 per cent decline expected by the ...
First Published: Fri, July 10 2020. 01:15 IST