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Below is quote on TCS Q2FY22 results by Jyoti Roy - DVP- Equity Strategist, Angel One Ltd

TCS reported a 2.9% qoq growth in revenues to USD 6.33bn which was below street estimates. In rupee terms revenue grew by 3.2% qoq to ₹46,867 crore. Gross profit for the quarter was up 3.3% qoq to ₹ 18,945 crore while gross margins remained flat qoq at 40.4%. EBIT for the quarter registered a growth of 3.6% qoq to ₹12,000 crore while EBIT margins expanded marginally by 10bps qoq to 25.6%. Adjusted net profit for the quarter was up by 6.8% qoq to ₹9,624 crore largely due to sharp increase in other income by 68.5% qoq to Rs. 969 crore. Demand environment is expected to remain strong which bodes well for the company and the entire IT sector. Overall the company reported numbers which were below street estimates for the quarter and the markets will now look forward to the Infosys numbers which will be declared on the 13^th of October. 

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