IT Q3 Results LIVE: Wipro beats analysts estimates with 15% jump in profit, declares dividend
IT Q3 Results LIVE Updates: Infosys and HCL Tech reported net profits that met analysts forecasts. Follow this space to know all about the IT majors profit, revenue, margin, attrition and guidance, and what experts make of these numbers.
IT Q3 Results HIGHLIGHTS: Wipro reported a 14.8 per cent sequential jump in net profit to Rs 3,052.9 crore for the October-December period, beating analysts' estimates, a day after Infosys and HCL Tech posted their quarterly numbers.
Bengaluru-based Wipro -- the country's fourth largest IT firm after TCS, Infosys and HCL Tech -- reported growth of 3.1 per cent in quarterly revenue to Rs 23,229 crore compared with the previous three months.
According to Zee Business research, Wipro was estimated to report a net profit of Rs 2,900 crore and revenue of Rs 23,280 crore.
Attrition at Wipro eased by 180 basis points to 21.2 per cent compared with the July-September period -- a fourth back-to-back quarter of moderation, according to the IT company.
Infosys reported a 9.4 per cent sequential increase in net profit to Rs 6,590 crore for the October-December period that met analysts' estimates. HCL Tech reported a 17.4 per cent rise in net profit to Rs 4,096 crore that far exceeded analysts' estimates.
Infosys raised its revenue growth guidance for the year ending March 2023, whereas HCL Tech trimmed it. HCL Tech declared a dividend for its investors.
The earnings reports of Infosys and HCL Tech come close on the heels of a mixed set of results by TCS and at a time when IT companies are scrambling to protect their margins against higher employee costs owing to sticky levels of attrition.
Catch highlights of financial results of TCS, Infosys, Wipro and HCL Tech, expert views and much more with Zeebiz.com's blog:
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Wipro Results | Attrition eases by 180 bps sequentially to 21.2%
"The expansion of margins was after absorbing the investments we made in our people by way of salary increases, promotions and long-term incentives for our senior leadership. Margin growth was led by strong operational improvements and automation-led efficiencies," said Wipro CFO Jatin Dalal.
Wipro Results | Another quarter of double-digit revenue growth, total bookings over $4.3 billion, says CEO Thierry Delaporte
"We are continuing to gain market share as a result of deepening client relationships and higher win rates. Clients are turning to us to help them manage an evolving macro environment and balance their transformation goals with cost optimisation. Our ability to deliver on client objectives regardless of where they are in their cloud journeys is positioning us favourably in a consolidating market," said Wipro CEO and Managing Director Thierry Delaporte.
Wipro Results | Operating margin improves by 120 bps sequentially to 16.3%
Wipro Results | Profit up 14.8% sequentially, beats analysts' estimates
The IT company declared a dividend of Re 1.
Wipro set to report results soon
The Wipro stock is quoting lower by Rs 1.9 or 0.5 per cent at Rs 392.6 apiece on BSE 25 minutes before the closing bell. Here's a look at how Wipro shares performed in Q3:
Zee Business Managing Editor Anil Singhvi says Infosys Q3 results better than HCL Tech
Out of Infosys and HCL Tech, Zee Business Managing Editor Anil Singhvi finds the results of Infosys better.
From a valuation perspective, Infosys has started to look better than TCS, he says.
What brokerages recommend on HCL Tech
Wipro to report results on Friday
Catch Infosys and HCL Tech earnings here. Follow this space to get minute-by-minute updates on IT results, analyses, expert views and much more on Zeebiz.com.
HCL Tech Results | Noida-based IT firm trims revenue, margin guidance
HCL Tech trimmed its revenue growth forecast to 13.5-14 per cent and margin guidance to 18-18.5 per cent for the year ending March 2023 -- both in constant currency terms.
In Q2, HCL Tech had guided for revenue growth of 13.5-14.5 per cent and margin of 18-19 per cent.
HCL Tech Results | Dollar revenue increases 5.3% sequentially to $3,244 million
HCL Tech Results: Company enthused with overall well-rounded performance, says CFO
HCL Tech CFO Prateek Aggarwal said the company is enthused with the overall well-rounded Q3 performance.
"Profitability was at an all-time high with EBIT at Rs 5,228 crores (up 22.8 per cent YoY)," he said.
HCL Tech Results | Strong performance across revenue growth, margin expansion, booking growth, people metrics, says CEO C Vijayakumar
C Vijayakumar, CEO and Managing Director, HCL Tech, said the company delivered a strong performance across all key metrics.
Our strong revenue growth of 13.1 per cent YoY CC (constant currency) is led by our services business which grew 15.4 per cent YoY CC; and strong revenue growth of 5.0 per cent QoQ CC is led by HCLSoftware. Our margins, at 19.6% this quarter, increased 60 basis points YoY," he said.
Booking growth was led by IT operating model transformation, Cloud adoption and large vendor consolidation deals, the CEO said.
"We are confident to deliver industry leading growth over the medium term supercharged by our positioning, our strong propositions and our passionate people,” he added.
HCL Tech declares dividend of Rs 10 per share
This marks the 80th consecutive quarter of dividend payouts by HCL Tech, according to a company statement.
HCL Tech Results | Net profit jumps 17.4% sequentially to Rs 4,096 crore, beats analysts' estimates
HCL Tech reported a net profit of Rs 4,096 crore for the October-December period, up 17.3 per cent on a quarter-on-quarter basis. The IT company's quarter revenue came in at Rs 26,700 crore, as against Rs 24,686 crore for the previous three months.
According to Zee Business research, HCL Tech was estimated to report a quarter net profit of Rs 3,850 crore and revenue of Rs 26,400 crore.
Infosys maintains operating margin guidance at 21-22%
That was in line with the Zee Business research estimate.
Infosys Results | Revenue growth in constant currency at 2.4% sequentially
According to Zee Business research, the growth was estimated at 1.5 per cent.
Infosys Results | CEO Salil Parekh says digital business, core services aided revenue growth in Q3
Infosys CEO and MD Salil Parekh said the company's revenue growth was strong in the quarter, with both digital business and core services growing. "This is a clear reflection of our deep client relevance, industry-leading digital, Cloud, and automation capabilities, and the unrelenting dedication of our employees," he added.
“As reflected in the large deals momentum, we continue to gain market share as a trusted transformation and operational partner for our clients. Our end-to-end capabilities and global scale make us a preferred choice as clients look at consolidating vendors. We remain focused on helping businesses accelerate their digital agenda to uncover new value and growth, as well as improve operational and cost effectiveness," the Infosys CEO further said.
Infosys Results | Margin unchanged sequentially at 21.5%
Infosys was estimated to report a margin of 21.6 per cent for the quarter ended December 2022, according to Zee Business research.
“Operating margins in Q3 remained resilient due to cost optimization benefits which offset the impact of seasonal weakness in operating parameters," said Infosys CFO Nilanjan Roy.
Infosys Results | Dollar revenue up 2.3% sequentially to $4,659 million
According to Zee Business research, the IT firm's revenue in dollar terms was estimated at $4,614 million.
Infosys Q3 Results | Revenue growth guidance for 2022-23 raised to 16.0-16.5% from 15-16%
According to Zee Business research, the IT giant was estimated to maintain the guidance in constant currency terms at the existing level.
Infosys Q3 Results | Net profit increases 9.5% sequentially to Rs 6,590 crore, in line with analysts' estimates
The IT major reports a net profit of Rs 6,590 crore for the quarter ended December 2022, as against the estimate of Rs 6,580 crore by Zee Business research.
Infosys had posted a net profit of Rs 6,021 crore for the July-September period.
Infosys, HCL Tech likely to maintain revenue, margin guidance at existing levels
According to Zee Business research, both Infosys and HCL Tech are estimated to mainain their guidance for revenue growth and EBIT margin.
- Infosys revenue guidance stands at 15-16% in constant currency terms, EBIT margin guidance at 21-23%
- HCL Tech has given revenue growth guidance in constant currency at 13.5-14.5%, EBIT margin guidance at 18-19%
HCL Tech Results | Constant currency revenue may increase 2% sequentially
According to Zee Business research, the IT company is likely to post a sequential increase of two per cent in revenue in constant currency terms.
HCL Tech Results | Net profit likely to increase 10% sequentially to Rs 3,850 crore
HCL Tech is estimated to report a net profit of Rs 3,850 crore for the quarter ended December 2022, as against a net profit of Rs 3,489 crore for the previous three months, according to Zee Business research. The IT company's quarterly revenue is likely to increase seven per cent sequentially to Rs 26,400 crore.
According to the research, revenue in dollars may grow four per cent sequentially to $3,205 million.
Infosys Results | Zee Business research estimates dollar revenue at $4,614 million
According to Zee Business research, Infosys -- India's second largest IT services firm -- is likely to report revenue of $4614 million for the quarter ended December 2022, as against $4,555 million for the previous three months. That translates to a sequential increase of 1.3 per cent.
The research team estimates the IT company's revenue in constant currency to improve by 1.5 per cent on a quarter-on-quarter basis.
Infosys Q3 Results | IT major likely to report over 9% sequential increase in net profit
Infosys -- India's second largest IT firm after Tata Consultancy Services (TCS) -- is estimated to report a net profit of Rs 6,580 crore for the three-month period, which translates to a quarter-on-quarter increase of 9.3 per cent, according to Zee Business research.
The IT services company's quarterly revenue is estimated at Rs 37,920 crore, which would mean sequential growth of 3.8 per cent. (What else to look out for Infosys results today)
Infosys, HCL Tech shares in the green ahead of results due today
Infosys shares are quoting higher by Rs 4.6 or 0.3 per cent at Rs 1,476 apiece on BSE at this hour. The HCL Tech stock is at Rs 1,070.2, up by Rs 15.4 or 1.5 per cent from its previous close. Both companies will report their financial results for the October-December period later in the day.
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Welcome to Zeebiz.com's LIVE blog on Infosys and HCL Tech Q3 results!
Infosys and HCL Tech are all set to report their financial results today, close on the heels of a mixed set of earnings from TCS.
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