Infosys, TCS, Wipro Q3 Results Highlights | IT majors Infosys, Tata Consultancy Services (TCS) and Wipro announced their quarterly results on January 12.
Wipro has reported a 2.3 percent sequential growth in its Q3 FY22 revenue, which came in at $264 billion in terms of dollar and a 3 percent sequential growth in terms of rupee.
Net profit totaled $399.10 million in Q3 up 1.3% from the end of the September quarter (Q2 2021-22). Operating margin was at 17.6% down 19 basis points from Q2.
This is the first time when Wipro, TCS and Infosys are declaring their financial results on the same day.
The last two quarters have been strong for the IT sector and even the seasonally weak October-December period - due to the year-end holidays - is likely to be no different as unprecedented demand driven by the shift to digital amid the coronavirus pandemic boosted the sector.
Brokerage firm Kotak Institutional Equities pegs that Wipro, Tech Mahindra and HCL Tech will deliver 4.5 percent growth in constant currency whereas Infosys and TCS will grow at 3.7 percent and 2.6 percent respectively.
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Infosys, TCS, Wipro Q3 Results LIVE Updates | Delighted to hit the $25 billion revenue mark in CY 2021, says TCS COO
"We continued our focus on growing organically and on developing the talent, methodologies, and toolkits for an ever- evolving technology landscape. This, coupled with our contextual knowledge and the passion and commitment of thousands of TCSers enabled us to deliver cutting-edge solutions during the quarter, and help our clients realize speed to value. We are also delighted to cross another important milestone in our journey, hitting the $25 billion revenue mark in CY 2021," TCS COO and ED N GanapathySubramaniam said.
Infosys, TCS, Wipro Q3 Results LIVE Updates | Sustained investment in our talent helped us, says TCS CFO
TCS CFO Samir Seksaria, while reacting to the company's Q3 performance, said, "Our sustained investment in our talent has helped us power strong growth despite a challenging supply environment. We remain focused on long term talent development as well as on tactical measures to mitigate the talent churn. We have exercised various operating levers in Q3 to mitigate the higher costs and manage our employee expense."
Infosys, TCS, Wipro Q3 Results LIVE Updates | TCS' EBIT rises 2% on sequential basis
TCS' earnings before interest and taxes rose two percent, as compared to the past quarter, to Rs 12,237 crore. In Q2 FY22, an EBIT of Rs 12,000 crore was recorded.
Infosys, TCS, Wipro Q3 Results LIVE Updates | TCS reports quarterly revenue of Rs 48,885 crore
TCS has reported a reported a revenue of Rs 48,885 croreagainst the estimate of Rs 48,481 crore in the CNBC TV poll. The net profit for the quarter came in atRs9,769 crore, around 1.5percent higher than the previous quarter.
Infosys, TCS, Wipro Q3 Results LIVE Updates | TCS reports profit of Rs 9,769 crore
TCS has reported aprofit of Rs 9,769 crore, marginally higher than Rs 9,624 crore reported in the last quarter. The numbers are, however, slightly lower than Rs 9,862 crore which was estimated in the CNBC-TV18 poll.
Infosys, TCS, Wipro Q3 Results LIVE Updates |
Infosys' struggles with high attrition continued in the December quarter as the voluntary attrition rate skyrocketed to 25.5 percent from 20.1 percent, a quarter ago.
Infosys, TCS, Wipro Q3 Results LIVE Updates |
TCS quarterly results are expected to be declared shortly. Wipro and Infosys have declared their numbers so far. This is the first tiime when the three IT sector majors are releasing their financial performance figures on the same day. While Wipro has reported a net profit of Rs 2,790 crore, Infosys' profit rose to Rs 5,809 crore.Infosys, TCS, Wipro Q3 Results LIVE Updates |
Wipro, which reported a net profit of Rs 2,970 crore for the quarter, also revealed today that ithired a total 41,363 employees between January and December 2021, a multi-fold jump from 2,990 in FY21, as demand for talent soared amid shift to digital while rate of attrition also gained. Read full report
Infosys, TCS, Wipro Q3 Results LIVE Updates | Infosys raises revenue growth guidance for 2022-23 to 19.5-20%
The robust topline performance of Wipro hasfurther enabled the company to raise its revenue growth guidance for 2022-23 to 19.5-20.0 percent from 16.5-17.5 percent earlier."We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations," Salil Parekh, Wipro MD and CEO, said.
Infosys, TCS, Wipro Q3 Results LIVE Updates | Infy Q3 performance beats market estimates
The Q3 FY22 performance of Infosys has surpassed market estimates.The company has reported a 7.7 percent on-quarter rise in consolidated revenues to Rs 31,867 crore, whereas, its profit-after-tax has surged by7.2 percentQoQ to Rs 5,809 crore.
Infosys was expected to report a 4.5 percent quarter-on-quarter growth in consolidated revenues to Rs. 30,940 crore while its consolidated net profit was seen rising 5.2 percent on-quarter to Rs. 5,701 crore, according to a CNBC-TV18 poll.
Infosys, TCS, Wipro Q3 Results LIVE Updates |
For Wipro, this is the the fifth consecutive quarter of strong performance, both on revenues, and margins. "Order bookings have been strong too, and we have added seven new customers in the more than $100 Mn revenue league, in the last 12 months," company'sCEO and Managing DirectorThierry Delaporte said.
Infosys, TCS, Wipro Q3 Results LIVE Updates |
Wipro, in its Q4 outlook,expects revenue from its IT services business to be in the range of $2.69 billion to $2.75 billion in the March quarter. This translates to a sequential growth of 2to 4 percent.
Infosys, TCS, Wipro Q3 Results LIVE Updates |
Infosys reported a7.2 percent quarter-on-quarter rise in its consolidated net profit for the quarter ended December to Rs 5,809 crore.
Infosys, TCS, Wipro Q3 Results LIVE Updates |
Wipro's Net profit totaled $399.10 million in Q3 up 1.3% from the end of the September quarter (Q2 2021-22). Operating margin was at 17.6% down 19 basis points from Q2.
