Sequentially TCS registered a 4% rise in consolidated sales to Rs 37338 crore for the quarter ended December 2018.
OPM fell 170 basis points to 27.0% which saw OP fall 2% to Rs 10083 crore. OPM fell from 28.7% to 27.0% qoq due to net negative cross-currency impact on margins. Margins were also affected by 60bps increase in sub-con expenses while chasing growth and ~7,000 net new hires in Q3FY19. The management expects these expenses to normalize as it prepares itself better to service the deals it has won.
Other income jumped 59% to Rs 1163 crore and interest cost fell 88% to Rs 16 crore. After providing for depreciation (up 2% to Rs 519 crore), PBT went up 3% to Rs 10711 crore.
Provision for taxation grew 6% to Rs 2590 crore after which PAT grew 2% to Rs 8121 crore.
Minority interest (MI) fell 38% to Rs 16 crore. Thus net profit grew 3% to Rs 8108 crore.
YoY quarterly results
On yoy basis TCS registered 21% rise in sales. OPM improved 20 basis points which saw OP grow 22%. PBT jumped 24%and net profit went up 24%.
Nine months results
For the nine months TCS registered 19% rise in consolidated sales to Rs 108453 crore.
OPM improved 90 basis points to 27.1% which saw OP rise 23% to Rs 29432 crore.
Other income grew 18% to Rs 3118 crore and interest cost grew 325% to Rs 170 crore. After providing for depreciation (Rs 1519 crore against Rs 1509 crore), PBT went up 24% to Rs 30861 crore.
Provision for taxation grew 24% to Rs 7451 crore after which PAT grew 24% to Rs 23410 crore.
Minority interest (MI) grew 94% to Rs 64 crore. Thus net profit grew 23% to Rs 23346 crore.
The stock trades at Rs 1888.
TCS: Consolidated Results
|1812 (3)||1809 (3)||Var. (%)||1712 (3)||Var. (%)||1812 (9)||1712 (9)||Var. (%)||1803 (12)||1703 (12)||Var. (%)|
|* Paid up equity capital of Rs 375 crore, Face value Re 1,
Figures in crore
Source: Capitaline Databases
EO: Extraordinary items
EPS is adjusted after EO and relevant tax