IT giants TCS and Infosys delivered their much awaited first quarter earnings during the week, which were mixed in performance. Quantam wise both are not comparable but in growth terms Infosys beat TCS.
Infosys on Friday surprised the Street by reporting better-than-expected constant currency revenue growth (2.7 percent QoQ), dollar revenue (3.2 percent) and lower-than-expected 3.3 percent fall in profit.
At the same time, however, the Tata Group firm lagged Infosys as it posted 2 percent revenue growth in constant currency, 3.1 percent in dollar revenue and 10 percent fall in bottomline.
Even on operational basis, Infosys' earnings before interest & tax-EBIT (-2.4 percent) and margin (24.1 percent) surpassed TCS' EBIT (-9.34 percent) and margin (23.4 percent).
In rupee revenue terms, TCS and Infosys each posted 0.2 percent degrowth.
However, TCS beat Infosys only in volume growth (3.5 percent and 1.7 percent) and North America business (1.7 percent and 1.3 percent).
Attrition at Infosys was much higher at 21 percent compared with 11.6 percent of TCS during the quarter.
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