The earnings season for the January-March quarter (Q4FY25) and full financial year 2024-25 will kick off with TCS reporting its results on April 10, followed by Wipro on April 16, Infosys on April 17, HCLTech on April 22 and Tech Mahindra on April 24.
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Wipro on Wednesday forecast revenue in the first quarter to decline sequentially and flagged an uncertain demand environment, echoing TCS and hinting at pressure across India's $283 billion IT sector.
India's fourth biggest IT services firm expects revenue in the April–June quarter to fall between 1.5%–3.5%, as "clients remain cautious in the face of macroeconomic uncertainty."
The country's IT sector had hoped Donald Trump's presidency would revive business confidence, but trade war uncertainty and shifting tariffs have made companies wary of large deals.
Industry leader TCS missed fourth-quarter earnings estimates last week and warned about clients delaying decision-making in discretionary projects.
Wipro's consolidated revenue rose 1.3% to 225.04 billion rupees ($2.63 billion) in the quarter-ended March, while analysts, on average, expected revenue to come in at 226.21 billion rupees, as per data compiled by LSEG.
Mumbai-based brokerage firm Dolat Capital had expected Wipro's June-quarter revenue to range from a 1% drop to 1% growth, said analyst Rahul Jain, calling the forecast "weak".
Wipro's net profit for the quarter rose 26% to 35.7 billion rupees, compared with analysts' mean estimate of 33.38 billion rupees.
Three out of the company's five verticals fell during the quarter, led by energy, manufacturing and resources. Banking, its largest segment, continued to grow for the third straight quarter.
Deal wins for the quarter stood at $4 billion, mainly due to the $650 million Phoenix deal bagged last month. This compares with a $3.61 billion in the same period last year.
India's second-largest IT firm Infosys reports results on Thursday while third-largest firm HCLTech will report next week.