Q3 Earnings Highlights: TCS crosses $25 billion revenue mark in CY2021

Tata Consultancy Services (TCS), India's largest IT services company, on Wednesday posted a consolidated net profit of ₹9,769 crore for the quarter ending December 31, 2021 (Q3FY22), up 12% from Rs 8,701 crore a year ago. Earlier today, IT major Infosys reported a near 12% rise in December-quarter profit, on strong demand for its software services from global businesses transforming their digital infrastructure. Meanwhile, Wipro also released its quarterly earnings. The company reported a net profit of ₹2,969 crore for the December quarter (Q3FY22). Thank you for following Deccan Herald.

TCS crosses $25 billion revenue mark in CY2021

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

TCS to be part of Centre's Aatmanirbhar program

Have chosen to be part of the government's Atmanirbhar program. Hopefully this will help us in the long-term: NG Subramaniam, COO

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

TCS has reported a reported a revenue of Rs 48,885 crore against the estimate of Rs 48,481 crore in the CNBC TV poll. The net profit for the quarter came in at Rs 9,769 crore, around 1.5 per cent higher than the previous quarter.

TCS board declares interim dividend of Rs 7 per equity share.

TCS approves buy back up to 4,00,00,000 equity shares of the company

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.

TCS net profit jumps 12.3% to Rs 9,768

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.

Infosys said it delivered strong December quarter performance with sequential growth of 7 per cent in a seasonally weak quarter and year-on-year growth of 21.5 per cent in constant currency

Had an uptick in people coming to the office for work. But now it is more remote working. We are very flexible about it, says Salil Parekh

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

Infosys raises FY22 revenue growth outlook to 19.5%-20% from previous guidance of 16.5%-17.5%

Infosys operating margins have declined 2% over last year at 23.5%.

Infosys attrition rate has risen to 25.5% from 20.1% in the previous September quarter and 11% in the same period last year

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 reported 7.7% rise in consolidated revenues to Rs 31,867 crore

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

Infosys plans to hire over 55,000 employees for FY22

IT giant Infosys on Wednesday said that the company is planning to hire over 55,000 employees for FY22 as part of its global graduate hiring program.

Infosys reports Q3 net profit of Rs 5,809 crore

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.

Amid rising Covid cases, Wipro CEO announces closure of all offices globally for the next four weeks

Wipro has added seven new customers in more than $100 mn revenue league: CEO

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 added more employees in this quarter than what the company added in the last 11 years: 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%.

Wipro expects revenue from IT services to be in range of $2,692 mn to $ 2,745 mn for the March quarter, a sequential growth of 2-4%.

Wipro has been consistently growing at 3% in the last few quarters, says Thierry Delaporte, CEO and Managing Director

Net Income for the quarter stood at $399.1 million; increases 1.3% QoQ

Wipro declares Rs 1 interim dividend per share

Wipro Q3 net profit flat at Rs 2,969 crore; revenue rises 29.6% year-on-year to Rs 20,313.6 cr

Information Technology company Wipro Ltd today reported a net profit of ₹2,969 crore for the December quarter (Q3FY22). The profit was almost flat when compared with ₹2,968 crore reported in the year-ago period.

Software exporters expected to see strong revenue growth in Q3: Report

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.

TCS Board to consider buyback proposal on Jan 12

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.

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IT firms likely to post strong Q3 results

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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