TCS Q3 Results Live: IT major to see muted earnings growth; deal wins in focus

TCS Q3 results 2024 date, other details

In one of its exchange filings on 29th December 2023, TCS informed Indian exchanges that the meeting of the Board of Directors of the Company is scheduled on 11/01/2024, inter alia, to consider and approve Pursuant to Regulation 29(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

TCS exchange filing said, “We hereby inform you that a meeting of the Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Thursday, January 11, 2024, inter alia to: i. approve and take on record the audited standalone financial results of the Company under Indian Accounting Standards (Ind AS) for the quarter and nine-month period ending December 31, 2023; ii. approve and take on record the audited consolidated financial results of the Company and its subsidiaries under Ind AS for the quarter and nine-month period ending December 31, 2023; and iii. consider declaration of Third interim dividend to the equity shareholders.”

What TCS Q3FY24 business update signals

“TCS has already reported a 3.2% YoY revenue growth and a 6.6% YoY profit growth in Q3, despite a slight decline in EBIT margins and a strong order book,” said Sonam Srivastava, Founder and Fund Manager at Wright Research.

TCS Q3 results today: Guidance and margins outlook in focus

“We expect the deal win momentum to sustain, particularly driven by cost optimization initiatives. Further, we would be looking out for comments on the demand outlook in the US (BFSI sector), UK, and Europe, any signs of recovery in discretionary projects, and margin outlook,” said Dhruv Mudaraddi, Research Analyst at StoxBox.

TCS Q3 results today: Margins to expand QoQ on operating leverage, currency exchange benefits

We expect TCS’ Q3FY24 revenue to be flat sequentially as growth was tepid due to ongoing weaknesses in discretionary spending and furloughs during the quarter. However, this downturn is expected to be partially mitigated by the positive impact of previously secured deals that are now ramping up. Margins, on the other hand, are anticipated to witness a slight expansion QoQ, driven by the easing of supply-side constraints, operating leverage, and currency exchange benefits,” said Dhruv Mudaraddi, Research Analyst at StoxBox.

TCS share price to trade sideways ahead of Q3 results today

“Post-results, we anticipate TCS shares to trade sideways within the range of ₹3600 to ₹3750,” said Amit Goel, Co-Founder & Chief Global Strategist at Pace 360.

TCS Q3 resuls 2024 preview: QoQ revenue, PAT may rise

“TCS is set to announce its Q3 results for FY24 on Thursday. Our projections suggest a 0.70% quarter-on-quarter (QoQ) rise in revenue, expected to reach ₹60,100 crore from the previous ₹59,692 crore. We anticipate a 2% increase in operating profit to ₹14,787 crore, up from ₹14,483 crore in the prior quarter. The bottom line could see a 2.14% QoQ increase in profit after tax, estimated at ₹11,624 crore compared to the previous ₹11,380 crore,” said Amit Goel, Co-Founder and Chief Global Strategist at Pace 360.

TCS Results Live: TCS to declare Q3 results today

Tata Consultancy Services (TCS), India’s largest IT services company, will declare its earnings for the fiscal third quarter ended December 2023 today, January 11. TCS Q3 results are expected to be muted with a tepid growth in revenue and profit after tax (PAT) on account of the prevailing weakness in discretionary spending in key markets in the West.