TCS Q3 net profit seen at Rs 3,402 crore; stock gains

MUMBAI: Tata Consultancy Services ( TCS), one of India’s largest IT companies, will be announcing its third quarter results after the market hours today.

The IT giant is likely to report a net profit of Rs 3,402 crore for the quarter ended December, down 3.13 per cent, against a net profit of Rs 3,512 crore a quarter ago, says AN ET Now poll.

Revenues in rupee terms are seen at Rs 15,908 crore, up 1.84 per cent, against Rs 15,620 crore in the previous quarter. Dollar term revenues are seen at $2,931 million, up 2.73 per cent, compared to $2,853 million quarter-on-quarter (QoQ).

EBIT is seen at Rs 4175 crore against Rs 4178.9 crore while EBIT margin is likely to be 26.24 per cent compared to 26.8 per cent, QoQ.

According to the ET Now poll, volume growth in 3Q is likely to be hurt by 1.5 per dent due to lower working days. Q3 margins are expected to dip 50-60 bps QoQ.

Investor will be focusing on client IT budgets, trends in discretionary spending, and commentary on pricing scenario and outlook on margins.

At 01:00 pm, the stock was at Rs 1,338.05, up 2.43 per cent, on the NSE. It touched a high of Rs 1,348.45 and a low of Rs 1,307.35 in trade today.