TCS - Q1FY14 Result Preview - Angel Broking

TCS is slated to announce its 1QFY2014 results today. We expect the company to post revenue of US$3,162mn with 4.0% qoq growth, mostly volume led. In rupee terms, revenues are expected to grow by 9.7% qoq to Rs. 18,021cr. EBITDA margin is expected to remain almost flat sequentially at 28.3% as the gains due to INR depreciation will be absorbed by the headwinds on account of wage. PAT is expected to be at Rs. 3,829cr, up 6% qoq.

TCS remains our preferred pick amongst Tier-I IT companies but due to recent sharp run up in the stock price, we maintain Neutral rating on the stock.

Source : Equity Bulls

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