The other important results that will be tracked today include those from HDFC Life Insurance Company, Anand Rathi Wealth, Aditya Birla Money, Den Networks and Tata Metaliks.
On Thursday, TCS reported a higher-than-expected revenue for the quarter ended December 2023, but the bottomline trailed expectations. India’s largest software service provider reported a 2% year-on-year (YoY) growth in consolidated net profit for the quarter to Rs 11,058 crore, and revenue increased 4% to Rs 60,583 crore.
Meanwhile, Infosys reported a consolidated profit after tax (PAT) of Rs 6,106 crore for the said, which was down 7% quarter-on-quarter. Revenue from operations during the third quarter rose by 1% to Rs 38,821 crore, compared with Rs 38,318 crore in the corresponding quarter of last year.
HCL Tech Q3 Results
The third largest Indian IT company is expected to beat the seasonality issue of the sector when it reports its October-December quarter earnings later today eclipsing performance of its bigger peers TCS and Infosys.The company is seen reporting a nearly 5% sequential rise in consolidated revenue to Rs 27,959.40 crore, and net profit is expected to increase by nearly 7% to Rs 4,085 crore, according to the average of estimates given by 11 brokerage firms.
Read more: HCLTech Q3 results preview: Revenue to grow better than peers; company may retain FY24 guidance
Wipro Q3 Results
For Wipro, it will be yet another quarter of muted performance given the higher than usual furloughs and weak discretionary demand environment. Furloughs is a period when employees go on leave, and this typically occurs during the December quarter, particularly in the western countries.
Analysts expect Wipro to see a 2.5-3.2% sequential decline in constant currency revenue growth in the information technology services business, but this will be lower than that guided by the software services exporter.
Read more: Wipro Q3 results preview: Sales may fall on weak demand environment; Q4 guidance eyed
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