TCS Q2 earnings up 8.4% sequentially to Rs 64.46 bn
13 October, 2017, 05:02 | Author: Regina Silva
The company has declared an interim dividend of Rs 7 per share.
India's top IT services firm Tata Consultancy Services Ltd (TCS) said it expected an uptick in the retail business segment in the coming quarters but remained cautious about the banking and financial services segments that form the bulk of its revenues.
On the margin perspective, the company was able to post a 1.70 per cent improvement to 25.1 per cent on the pretax gap, on the back of a 0.50 per cent help on account of currency, where dollar has been stable while rupee has depreciated against other currencies, and a 1.20 per cent help on operative efficiencies. Operating margins stood at 25.1%, a good jump of 171 basis points sequentially. "It is measured and people are looking to leverage multiple technologies for transition to business 4.0", said Rajesh Gopinathan, chief executive officer, TCS.
The results of TCS, the first to report quarterly earnings among Indian software exporters, augur well for the nation's information technology sector amid concerns companies could report muted financial performance in the second quarter because of a slowdown in the US financial services and retail industries. "The conversations are on how to bring all technologies together - mass personalisation, liberating ecosystems, better harnessing data, automation, and embracing risk to generate exponential growth."TCS had reported profits of Rs 6,586 crore on revenues of Rs 29,284 crore in FY17 Q2". Profitability beat was driven by strong cost management both on operational factors (sub-contracting) and selling, general and administrative expenses (savings on visa/travel and other G&A). Its revenue grew 4.3 per cent over past year - 3.2 per cent over the preceding April-June quarter - to Rs 30,541 crore under the Ind AS accounting norms.
Russian woman killed in risky holiday stunt
The report quoted Russian media reports as saying that Borodina was rushed to the hospital and died there of "serious injuries". Natalia Borisovna Borodina, from Moscow, was on holiday in the Dominican Republic when the horrific incident occured.
TCS said most businesses, barring financial services and retail, grew above 9.5% in the last quarter.
Indian IT major Tata Consulting Services (TCS) posted robust revenue and net growth for the second quarter of 2017-18 in dollar terms on sequential and annual basis, said a company official on Thursday.
TCS said growth was led by Europe (up 5.3 per cent Q-o-Q), Latin America (up 5.7 per cent Q-o-Q), APAC (up 3 per cent Q-o-Q) and United Kingdom (up 2.5 per cent Q-o-Q). Strong, broadbased client metrics this quarter demonstrates our increasing success with newer customers. The US, its largest market saw growth of 1.4 per cent, as it saw continued softness in business from banking and retail customers.
Gopinathan said the softness in the retail business is slowly "bottoming" out.
Abbott Laboratories (NYSE:ABT) touched its 1-Year High price of $55.43 on 10/10/17 and its 1-Year Low price of $37.38 on 12/01/16. The company has mean EPS estimate of 0.56 reported by 9 number of analyst for the quarter ending Current Qtr.(Sep2017).
He has appealed his US extradition, and Greece's Supreme Court is expected to rule on that appeal in coming weeks. Vinnik has denied the American allegations, insisting that he was merely a technical consultant for the exchange.
YorkBridge Wealth Partners LLC grew its holdings in shares of Anadarko Petroleum Corporation by 12.5% in the 2nd quarter. Cambrian Capital Limited Partnership decreased Anadarko Pete Corp (APC) stake by 38.22% reported in 2017Q2 SEC filing.
In groups of four: "Under the orders of the budding rebellion, your team will travel to the molten planet of Mustafar ". Secrets of the Empire transports a team of players into the Star Wars world and can be experienced via The Void .
The entertainment giant reported $1.50 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.45 by $0.05. Bernstein reaffirmed a "market perform" rating on shares of Walt Disney Company (The) in a report on Tuesday, September 12th.
The Company's cabozantinib product is an inhibitor of multiple tyrosine kinases, including MET, AXL, and VEGF receptors. Nine Chapters Capital Management Llc decreased Oracle Corporation (ORCL) stake by 76.72% reported in 2017Q2 SEC filing.
Stifel Nicolaus restated a "buy" rating and issued a $26.00 price target on shares of General Electric in a report on Thursday. The New England Investment & Retirement Group Inc holds 8,384 shares with $374,000 value , down from 28,902 last quarter.
The iPhone X also features Animoji, which are customized animated emoji that users can use to express their emotions on iMessage. Once Apple gets a handle on production, analysts are anticipating that demand for the iPhone X will be off the charts.
And Arsenal fans weren't buying it as social media lit up with furious fans condemning their former star's freakish statement. Former England midfielder and current Sky Sports panellist Paul Merson is back with another baffling statement.
The stock witnessed 15.65% gains, 13.64% gains and -4.4% declines for the 1-month, 3-month and 6-month period, respectively. The average Wall Street analyst rating for Seattle Genetics, Inc.is Hold, according to the average of 13 analyst scores.
Royal LePage is a Brookfield Real Estate Services Inc. company, a TSX-listed corporation trading under the symbol TSX:BRE. Ottawa maintained its stable momentum last quarter as prices increased by 7.9 per cent year-over-year to $441,453.
Tesla Recalls 11000 Model X SUVs On Possible Seat Issue
The recall only covers vehicles with second-row fold-flat seats that were built between October 28, 2016 and August 16, 2017. This can prevent the left seat from locking in an upright position and allow the seat to slide forward during a crash.
Ireland's 1st Test vs Pak in May
The date and venue for the encounter will be announced by the Ireland board in due course of time. Ireland will play Pakistan at home in May in their first cricket test.
Shahid Kapoor shares cryptic message about "Padmavati"
People felt that he is being insecure due to Ranveer Singh who stole major limelight in the trailer and got trolled mercilessly. Well, the trailer and actors have been getting much love from their fans as well as B-town celebs.