Today on stock exchanges almost everyone would be keeping a close eye on performance of Tata Consultancy Services (TCS) share price. Yesterday, TCS posted first quarter of FY19 (Q1FY19) result and the IT giant did not fail to post a very strong performance. The company surpassed analysts estimates in both top-line and bottom-line growth during Q1FY19. The company posted net profit of Rs 7,362 crore up by 23.73% from Rs 5,950 crore in Q1FY18 and up by 6.31% from Rs 6,925 crore in Q4FY18. It further recorded revenue of Rs 34,261 crore above 15.81% from Rs 29,584 crore in Q1FY18 and higher by 6.82% from Rs 32,075 crore in Q4FY18. 

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A Bloomberg poll of analysts had predicted TCS profit and revenue at Rs 7,018 crore and Rs 33,979 crore during Q1FY19. 

Considering this stellar performance, investors have shown their happiness over TCS stock price. 

 At around 1037 hours, TCS share price was trading at Rs 1,938.40 per piece above Rs 61.40 or 3.27%. The company has marked a new high of Rs 1,939 per piece on stock exchanges. The intention of investors were already revealed one day before TCS result announcement, that they were confident in the company’s earning this quarter. Investors had taken TCS share price to a high of Rs 1,930 per piece on BSE on June 09. 

Here’s a list of factors that helped TCS report a strong Q1FY19 result. 

Revenue growth accelerated in BFSI (+4.1%) and Retail & CPG (+12.7%) in 01. Growth was led by the Energy & Utilities vertical (+30.9%).

On geographical basis, North America bounced back growing + 7%, while UK (+18.7%), Continental Europe (+18.6%), and Asia Pacific (+10.8%) led the growth. 

Business & Technology Services had a strong quarter with several key deal wins and a healthy pipeline across all service lines. 

Digital revenue came at 25% which was up by 44.8% Y-o-Y.  All services saw strong growth and a healthy pipeline, as customers navigate the complexities of digitally re-imagining their business. Q1 saw strong demand for Cloud advisory and migration services, Cyber-security including GDPR, Identity & Access Management and Managed Security Services, Intelligent Process Automation, TCS Enterprise Cloud Platform, Interactive services, loT & Analytics services. 

The company expanded the partnership with M&G Prudential to deliver enhanced services for its UK savings and retirement customers, bringing the total number of policies managed by TCS to 5.8 million. 

Commenting on the Ql periormance, CEO and MO, Rajesh Gopinathan said: "We are starting the new fiscal year on a strong note, with the growth engine firing on all cylinders. Our Banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, we are positioned well for the future.”