Result Analysis Tata Consultancy Services Ltd

Result Analysis: Tata Consultancy Services Ltd.(CMP: Rs.3260.20)

Result Update: Q1FY24

Tata Consultancy Services is the largest IT Company in India and the global leader in IT services, consulting and business solutions with an extensive global network. The company offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. It provides services to industries such as BFSI, manufacturing, telecommunications, retail and transportation. The company serves to the world’s biggest conglomerates like Google, Amazon, Apple, IBM, Bosch, Adobe etc.

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Results:

Particulars (In Rs. Cr.)	Q1FY24	Q4FY23	Q1FY23	QoQ%	YoY%
Revenue from Operations	59,381	59,162	52,758	0.4%	12.6%
Other Income	1397	1175	789	18.9%	77.1%
Total Income	60,778	60,337	53,547	0.7%	13.5%
Employee Benefit Expenses	35,148	33,687	30,327	4.3%	15.9%
Employee benefit Expenses as % of Sales	59.2%	56.9%	57.5%	230 bps	170 bps
Equipment & Software licences cost	506	620	217	-18.4%	133.2%
Depreciation & Amortisation Expense	1,243	1,286	1,230	-3.3%	1.1%
Other Expense	8,729	9,081	8,799	-3.9%	-0.8%
EBIT	13,755	14,488	12,185	-5.1%	12.9%
EBIT Margin (%)	23.2%	24.5%	23.1%	-130 bps	10 bps
Profit After Tax (PAT)	11,120	11,436	9,519	-2.8%	16.8%
PATM (%)	18.7%	19.3%	18.0%	-60 bps	70 bps
EPS (in Rs.)	30.26	31.14	25.9	-2.8%	16.8%

Source: Company website, EWL Research

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