Revenue Rs 130,985 million, PAT Rs 11,598 million | Tech US News


Date of Results: 1St November, 2022
Recommendation: Buy.
Target price: Rs 1,130

Analysts at IIFL Securities forecast a 2.8% sequential growth in constant currency (cc) revenue (+2.6% cc organic sequential growth) as strength in the telecom vertical offset some softness in the enterprise vertical. Is. Deal wins should remain healthy in Q2, albeit down on a sequential basis.

They expect margins to expand by 40 basis points sequentially as the impact of wage increases is offset by one-time reductions like visa costs and productivity.

The company’s profit after tax (PAT) may grow by 2.5% on a sequential basis.

Key management insights to keep in mind:

  • Deal wins, including a ring on the 5G deal
  • Revenue and Margin Outlook for H2FY23
  • Comments on capital distributions and mergers of acquisitions.
  • Supply-side comments on withdrawal trends, subcontracting costs and employee growth

Estimated September 2022

QoQ change

YoY change
Revenue (US$mn) 1,641 0.5% 11.5%
Revenue (Rs. Million) 130,985 3.1% 20.4%
EBIT (Rs. Million) 15,012 7.0% (9.1)%
EBIT margin 11.5% 40 bps (370) bps
Profit After Tax (Rs Million) 11,598 2.5% (13.4)%
EPS (Rs.) 13.1 2.5% (13.5)%

Source: IIFL Research


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