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Tata Consultancy Services profit misses consensus by 16.7% in fiscal Q2


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Tata Consultancy Services profit misses consensus by 16.7% in fiscal Q2

Tata Consultancy Services Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was 25.28 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 30.36 rupees per share.

EPS increased 17.4% year over year from 21.53 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 49.80 billion rupees, an increase of 18.1% from 42.16 billion rupees in the prior-year period.

The normalized profit margin rose to 18.3% from 17.7% in the year-earlier period.

Total revenue rose 14.5% on an annual basis to 272.34 billion rupees from 237.83 billion rupees, and total operating expenses grew 13.7% year over year to 198.48 billion rupees from 174.61 billion rupees.

Reported net income rose 16.0% on an annual basis to 60.85 billion rupees, or 30.88 rupees per share, from 52.44 billion rupees, or 26.78 rupees per share.

As of Oct. 16, US$1 was equivalent to 64.73 Indian rupees.