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. Moneycontrol