Tata Consultancy Services may outperform Infosys over the next 1-2 quarters, said Raamdeo Agrawal, Director and Co-founder, Motilal Oswal Financial Services in an interview to CNBC-TV18. He feels it is too early to compare Infosys and TCS based on their Q1 earnings.
Yesterday, TCS’ Q1 FY11 numbers beats street expectations. The company's dollar revenues grow more than 6% while profits fell lesser-than-expected to Rs 1,844 crore. Margin contraction too was much lower than what was estimated.
However, the Q1 FY11 numbers from India's second largest IT services exporter -- Infosys Technologies -- had come in below street expectations earlier this week. Infosys' Q1 FY11 net profit declined 7.98% to Rs 1,488 crore as against Rs 1,617 crore, quarter-on-quarter basis. Revenues jumped 4.27% to Rs 6,198 crore from Rs 5,944 crore. A CNBC-TV18 poll expected net profit and sales at Rs 1,564.5 crore and at Rs 6,213.9 crore, respectively.
Speaking on oil reforms, the market pundit said further oil reforms are likely as long as crude trades below USD 100 per barrel.
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