Market volatility persisted during the July-September quarter owing to diverse headwinds such as aggressive monetary policy tightening by central banks of major world economies in an attempt to tame raging inflation, prolonged geopolitical tensions, upsurge in the US dollar index and the depreciating rupee. The global equity markets witnessed a correction over Q2FY23 with a few even entering the technical bear phase. However, Indian equity markets showed resilience and managed to outperform other markets due to better-than-expected economic growth trajectory and lower level of inflation. With expanding economic activity, softening of key commodity prices and easing supply chain issues, analysts and investors by and large expect Q2FY23 earnings to be buoyant. Let us delve deeper to analyse the Q2FY23 earnings of early bird companies that have declared results and try to discern the trend for companies that are yet to declare their results.
IT Companies' Performance
India's largest IT services company, Tata Consultancy Services (TCS), witnessed strong demand for all its services and managed to beat street estimates on profit and growth in Q2FY23. Buoyed by good performances across verticals and geographies, the company's revenue grew 18 per cent on a YoY basis to ₹55,309 crore. The IT giant reported an 8.4 per cent YoY increase in net profit at 10,431 crore compared to ₹9,653 crore in the corresponding year-ago quarter. The total contract value (TCV) for Q2FY23 stood at USD 8.1 billion, marginally lower than USD 8.2 billion recorded in Q1FY23.
Denne historien er fra November 07, 2022-utgaven av Dalal Street Investment Journal.
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Denne historien er fra November 07, 2022-utgaven av Dalal Street Investment Journal.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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