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HCL Technologies Ltd reported 20.8 percent year-on-year (YoY) growth in net profit to Rs 2325 crore for the quarter ended March 31.
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The company reported one of their biggest order wins in its quarterly results. However, challenges related to moderate execution as well as volatility among top clients may be hitting revenues
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Karan Taurani, Senior Analyst, Dolat Capital says, the stock has been their top pick in the sector and will remain so and will revise their earnings guidance upwards.
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Revenue may show a slight decline in constant currency terms. There were sizable project completions in the prior quarters and no immediate new project ramp-up to compensate for this. The company has a large exposure to British pound (about 18 percent), and hence there will be cross currency headwinds of 120 -130 basis points.
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Arun Jain, Chairman and Managing Director of Intellect Design Arena says the company is on track to achieve its revenue guidance of Rs 1200-crore by FY18, adding, the target is to maintain gross margin between 50-53 percent..
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Indian software major Wipro on Wednesday announced a 4 percent sequential growth in its rupee revenue, matching analysts' expectations.
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In an interview with CNBC-TV18, Intellect Design Arena's chairman and managing director, Arun Jain said revenue spillover of USD 2.5 million from last quarter of FY15 boosted growth in the June quarter.
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IT major Wipro today announced a bleak set of Q1 numbers. In an interview to CNBC-TV18, sector analysts breakdown the results and what can be expected from the company in the days ahead.
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While agreeing that there is heightened competitiveness, Rajesh Gopinathan, CFO and Vice-President, TCS, is confident of achieving growth better than industry. He also adds that the company saw a currency tailwind of 70 basis points on margins.
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The company‘s fourth-quarter revenues fell 1.1 percent to Rs 24,220 crore with EBIT falling 0.5 percent to Rs 6,591 crore while net profit (adjusted for one-time employee bonus) rose 8.4 percent to Rs 5,906 crore.
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A CNBC-TV18 poll of analysts has forecast the firm‘s dollar revenue to grow 0.2 percent to USD 3940 million versus USD 3931 million in the previous quarter, while rupee revenue is seen declining 0.1 percent, from Rs 24,501 crore to Rs 24,456 crore.
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Crisil expects dollar revenues of IT services to grow at 13-15% in 2015-16 in 2015-16 on the back of improvement in macroeconomic environment in developed economies, especially the US, which accounts for nearly 60 percent of the market for Indian IT vendors.
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A CNBC-TV18 poll of analysts forecasts Wipro‘s dollar revenues to grow 0.76 percent to USD 1785 million while revenue in rupee terms may rise 1.35 percent to Rs 11,070 crore. Operating profits are seen at Rs 2,431 crore while EBIT margin is seen unchanged at 22 percent.
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Consolidated total income from operations grew by 7.2 percent to Rs 5,488 crore in the quarter ended September 2014 compared to Rs 5,122 crore in June quarter while dollar revenue climbed 5.2 percent quarter-on-quarter to USD 900 million in the quarter gone by.
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Ankit Pande of Quant Broking estimates actual dollar revenue to grow by 7-8 percent for FY15, and 12 percent for FY16.
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“Last quarter also, we had a growth in India and this quarter also, we expect to have growth in India; however, we want to still keep it on a watch mode because we are still waiting for more broad-based confidence to come back,†TCS Chief Financial Officer Rajesh Gopinathan told analysts.
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The company reported operating margins of 29.4 percent for the December quarter. N Chandrasekhar, chief executive, TCS, said he was confident of maintaining margins of around 27 percent and said extra profits were being reinvested back into the business.
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After posting robust numbers in Q4FY13, Ravi Pandit, chairman and chief executive officer, KPIT Cummins is hopeful that the company will earn dollar revenue of USD 465-475 million in FY14.
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Anand Deshpande, CMD, Persistent Systems says, in an interview to CNBC-TV18, that the challenge was to boost IP revenue and the EBITDA is up 0.8 percent
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Justifying the brokerage‘s buy rating on Wipro, Aniruddha Mehta, research analyst, IIFL says he is expecting the company to post positive Q4 results tomorrow.
