TCS Q4FY18E Result Expectation@HighLight Investment
Consensus expectations for Q4FY18E:
Q3FY18 performance highlights:
Remarks:
- Revenue – Rs31,671cr, up by 2.5% qoq on better performance in Retail & CPG vertical
- EBITDA – Rs8,628cr, up by 4.1% qoq
- EBITDA Margin – 27.2%, an expansion of 43bps qoq aided by cross currency benefit
- PAT – Rs6,818cr, up by 4.4% yoy
Q3FY18 performance highlights:
- Revenue – Rs30,904cr, up by 1.2% qoq, due to ~6.4% qoq cc growth in Retail & CPG
- EBITDA – Rs8,288cr
- EBITDA Margin – 26.8%
- PAT – Rs6,545cr
Remarks:
- Key monitorable would be the quantum of growth in Retail & CPG vertical, which has been a strong performer, unlike for peers, where Retail & CPG has been subdued.
- BFSI commentary – the expectations have been split among participants and TCS has sounded more cautious.
- Comments on client budgets and quantum of digital deal sizes.
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