Tata Consultancy Services Ltd (TCS) has cancelled its September quarter earnings press conference and interviews scheduled for later this evening following Ratan Tata's demise. India's largest IT exporter is scheduled to announce its second quarter results today after market hours. Its board would also consider the second interim dividend for FY25 today.
"We hereby inform you that the press conference for Q2FY2025 scheduled to be held at 5:30 PM (IST) on Thursday, October 10, 2024, stands cancelled. The other events would be held as per schedule," TCS said in a stock exchange filing.
The leadership team was scheduled to address the media in a press conference at 5:30 pm IST. The interaction was to be telecast live on various business news channels. Besides, the company was scheduled to host an earnings conference call at 7 pm, during which the leadership team was expected to discuss financial performance and take questions.
"The company will also host an earnings conference call at 19:00 hrs IST (21:30 hrs SST/HKT, 13:30 hrs UTC, 09:30 hrs US ET), during which the leadership team will discuss financial performance and take questions," TCS said in its revised schedule of events.
Ahead of the earnings, investor were keenly focusing on the overall demand outlook in SDS segment, the commentary on engagements with clients other than JLR in transportation, reasons for slower-than-expected ramp-up of deals in auto, outlook of media & communications vertical, outlook of healthcare & medical devices vertical and progress on scale-up of adjacencies in each of the three focus verticals.
Kotak Institutional Equities expects TCS to report 9.9 per cent YoY rise in net profit at Rs 12,461 crore on 7.3 per cent YoY rise in net sales at Rs 64,040 crore.
"We forecast revenue growth of 1.2 per cent CC QoQ, primarily driven by transportation vertical, stability in media & communications and sharp revenue decline in healthcare & medical devices. Transportation would outperform despite headwinds from moderating demand and deferral of large programs. Outperformance would primarily be driven by JLR. Media & communications clients remain cautious on incremental spends," the brokerage said.