We continued our focus on growing organically and on developing the talent, methodologies, and toolkits for an ever-evolving technology landscape. This, coupled with our contextual knowledge and the passion and commitment of thousands of TCSers enabled us to deliver cutting-edge solutions during the quarter and help our clients realize speed to value. We are also delighted to cross another important milestone in our journey, hitting the $25 billion revenue mark in CY 2021:COO and ED N GanapathySubramaniam
About 34,000 associates at entry level have been hired; significant numbers coming from campus and the rest are from the market:Milind Lakkad,Chief Human Resources Officer
Have taken tactical measures to tackle supply-side churn. Will do whatever is required to capture growth and business continuity though we have the lowest attrition:Samir Seksaria, CFO TCS
The Board of Directors at its meeting held has approved a proposal to buy back up to 4,00,00,000 equity shares of the company for an aggregate amount not exceeding Rs 18,000 crore being 1.08% of the total paid-up equity share capital at 4,500 per equity share subject to approval from shareholders: TCS
TCS revenue from operations rose 16% to Rs 48,885 crore in the third quarter. It was Rs 42,015 crore in the same period last year.
Tata Consultancy Services (TCS), the largest IT company in India, on Wednesday said that its consolidated net profit for the quarter ended December climbed 12.3 per cent to Rs 9,769 crore from Rs 8,701 crore in the corresponding quarter last year.
During the reported quarter, Infosys added two new clients each in the $100 million-plus category and $50 million-plus category. Staff utilisation including trainees dipped to 82.7% from 84.1%in the previous quarter likely due to lower workdays in the quarter.
Attrition will inch down from various players in the industry. As freshers are recruited more, these numbers should stabilise: Nilanan Roy
In a situation where all the decisions we made in the last many years, our execution has been good. Overall deal pipeline is larger than we've ever had. This is in line with digital transformation our clients want: Parekh
Our strong performance and market share gains are a testament to the enormous confidence our clients have in us to help them in their digital transformation: Infosys CEO Salil Parekh
Infosys also reported a7.7 per cent on-quarter rise in consolidated revenues to Rs 31,867 crore for the reported quarter driven by the hybrid cloud partnership with German auto major Daimler announced in December 2020
Information Technology giant Infosys reported a consolidated net profit of Rs 5,809 crore for the three months ending 31 December 2021 (Q3FY22), an increase of 12% from Rs 5,197 crore clocked in the same period last year.
Wipro has delivered a fifth consecutive quarter of strong performance, both on revenues, and margins. Order bookings have been strong too, and we have added seven new customers in the more than $100 mn revenue league, in the last 12 months: CEO
Wipro expects revenue from IT services to be in range of $2,692 mn to $2,745 mn for March quarter, a sequential growth of 2-4%.
Software exporters are set for a weak earnings season with some of them finding their EPS growth falling to the tune of 15 per cent, despite strong revenue growth of 2.6 to 6 per cent in the seasonally weak quarter ending December, according to a report.
The December 2021 quarter earnings season will begin later this week or early next week with industry leaders TCS and Infosys announcing their numbers.
India's largest IT firm Tata Consultancy Services (TCS) on Friday said its Board will consider a buyback proposal on January 12.
"...the Board of Directors will consider a proposal for buyback of equity shares of the company, at its meeting to be held on January 12, 2022," a regulatory filing said.
Against this backdrop, large IT services firms will be comfortably placed to achieve double-digit revenue growth this fiscal. Analysts also said that as the demand environment is broad-based, mid-tier firms will also continue their stellar run with some posting revenue growth rate in high teens.
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