Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions firm, will be announcing its first quarter financial results on Thursday, Jul. 17, 2014.

Angel Broking expects the company to post 4.8% sequential growth in USD revenues to USD 3,671 million, mostly volume lead. In rupee terms, revenues are expected to come in at Rs 219.44 billion, up 1.8% qoq. EBITDA margin is expected to show decline of 202bp qoq to 27.1%.

Consequently, PAT is expected to be at Rs 48.07 billion, a dip of 9.2% qoq. We maintain our buy rating on the stock with a target price of Rs 2,778.''

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