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Friday 12 October 2018

TCS sets the bar (again)

logoTCS kicked off the India-centric services supplier reporting season in typically serene style, not only maintaining double-digit growth but also furnishing its best operating margin for over two years.

Headline revenues for FQ2 (to 30th September) grew by 10% yoy to $5.22bn, just over 3% higher that the prior quarter. UK was the star performer with revenues surging ahead by nearly 23% yoy as the Prudential Life & Pensions deal builds up a head of steam (see TCS on a roll in life & pensions).

Operating margins expanded to 26.5%, over 1 point higher yoy and 50bps up on the prior quarter; the last time TCS hit this level was in December 2015. TCS has been the peer group margin leader for three years.

TCS also sets the standard on IT services attrition which remained at 10.9%, the lowest among peers, although it must be said that this is not an exact 'apples with apples' comparison (see OffshoreViews Q2 2018 Review).

All in all, a class act which the others will likely struggle to follow.

We'll have a full round-up of Indian pure-play results in the next edition of OffshoreViews.

Posted by Anthony Miller at '08:12' - Tagged: results   offshore  

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