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TCS Q1 Preview: Muted revenue growth expected amid wage hikes, macro headwinds

In their previews, brokerage firms have pointed out that decreased discretionary spending, wage hikes and companies prioritising long term deals due to recession fears in the North American market have impacted notably TCS and some of the other Tier-1 companies’ margins.

July 12, 2023 / 11:08 IST
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IT services major Tata Consultancy Services (TCS) is once again expected to report a muted quarter, in line with the predictions of several analysts. The company is all set to detail its April-June earnings after market hours today.

According to an average of the estimates by Motilal Oswal, Kotak Institutional Equities, Jefferies and ICICI Securities, the company is expected to report a revenue of Rs 59,480 crore in Q1FY24. This is supposed to be a mere 0.5 percent increase QoQ (quarter-on-quarter) but a 12.7 percent increase YoY (year-on-year).

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According to a mean consensus of the above mentioned brokerage firms, TCS is also expected to register a decline in its profits. The net profit estimate for Q1FY24 is Rs 10,886 crore, which is a 4.6 percent decline quarter-on-quarter against Rs 11,436 crore reported earlier.

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