IT majors Tata Consultancy Services Ltd (TCS), Wipro and Infosys presented their Q3FY22 results on Wednesday. While TCS and Infosys beat the street's estimate on growth parameters, Wipro missed it in the results announced for the quarter ended December 31, 2021.  

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

TCS profit saw jump at Rs 9,769 crore in Q3FY22 against Rs 9,624 crore in Q2FY22 and revenue surged to Rs 48,885 crore from Rs 46,867 crore QoQ. IT gaint also announced a buyback of 4 crore equity shares worth Rs 18,000 crore, at a price of Rs 4,500 per share. Similarly, Infosys reported profit at Rs 5,809 crore in December quarter against Rs 5,421 crore in Q2FY22.  

See Zee Business Live TV Streaming Below:

Meanwhile, Wipro on Wednesday reported a 1.3% QoQ rise in its consolidated profit at Rs 2,969 crore for the quarter ended December 31, 2021. It had posted a profit of Rs 2,930 crore in the previous quarter ended September 30, 2021. 

At 9.45 am, shares of IT services provider troika were trading mixed in view of the Q3FY22 results announced by the respective companies on Wednesday.  

Shares of TCS appreciated as much as 1.5% to Rs3944 per share in Thursday's intraday trade on the BSE after the IT giant witnessed improvement in profit and revenue in the October-December quarter. TCS stocks were trading with 0.56% gain or Rs 21.24 to Rs 3878.70 apiece on the BSE around the same time.  

Meanwhile, Infosys shares too traded over 1 per cent higher on the BSE in the early trade on Thursday. The scrip was trading with gain of Rs 17.55 or 0.93% to Rs 1895.15 per share at 9.45 am after hitting day's high of Rs 1912.  

However, as expected Wipro shares declined nearly 6 per cent in the Thursday's intraday trade after the IT major missed the street's estimate on Wednesday. Wipro declined to day's low of Rs 652.55 per share and was trading 5 per cent lower to Rs 656.10 per share on the BSE around 9.50 am.