The company posted 4QFY2017 results better than expected. In US$ terms, the revenues came in at US$1,817mn (v/s US$1,810mn expected) v/s US$1,745mn in 3QFY2017, a qoq growth of 4.1%. On Constant Currency (CC) basis, company posted a 3.8% qoq growth. On the operating front, EBIT came in at 20.0% (v/s 20.1% expected) v/s 20.4% in 3QFY2017, a dip of 34bps qoq. Thus, PAT came in at 2,325cr (v/s `1,982cr expected) v/s `2,070cr in 3QFY2017, up 12.3% qoq. For FY2018, revenues are expected to grow 10.5-12.5% in Constant Currency (CC) and EBIT Margin of 19.5-20.5%. We maintain our buy.

Download Full Report View Full Report in Browser