TCS reported lower revenue and margins, How will the company trace path to growth?
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TCS reported lower than expected contraction in revenues and margins, however management commentary was reassuring and positive. Q1 on expected lines witnessed Covid-19 impact, management believes Covid impact has bottomed out and recovery is likely to be faster than global financial crisis. "The revenue impact of the pandemic played out broadly along the lines we had anticipated at the start of the quarter. It affected all verticals, with the exception of Life Sciences and Healthcare, with varying levels of impact. We believe it has bottomed out, and we should now start tracing our path to growth," says Rajesh Gopinathan, CEO & MD, TCS. Q1 FY21 Revenue de-grew by 6.3% QOQ in Constant currency (CC) terms. USD revenue at 5059 mn (down 7.07% QOQ). EBIT margins declined to 23.6% (vs 25.1% QOQ). Profit at Rs 7,008 cr (down 12.9% QOQ). BFSI, Retail revenue de-grew. Interms of revenue by geographies, Europe was ahead on recovery curve, US was most resilient. Watch! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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