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India Inc Earnings Highlights: Infosys beats Street estimate with net profit of Rs 5,421 crore, ups revenue guidance

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India Inc Earnings Highlights: Infosys, Wipro and Mindtree reported their financial results for the July-September period on Wednesday, October 13. All three IT companies met Street expectations. Shares in Infosys, Wipro and Mindtree ended 1.4-2.3 percent higher ahead of the earnings announcements. Tata Consultancy Services (TCS) -- the country's largest IT services provider -- kicked off the corporate earnings season last week.

India Inc Earnings Highlights: Infosys beats Street estimate with net profit of Rs 5,421 crore, ups revenue guidance
  • Infosys to announce new structure before UB Pravin Rao steps down: CEO Salil Parekh

  • Infosys to hire 45,000 freshers in FY22, up from earlier forecast of 35,000

    Infosys said it was expanding its college graduates hiring program to around 45,000 for this financial year. It was earlier looking to hire 35,000 freshers. (Read more on Infosys hiring)

  • Infosys Q2 | EBIT margin guidance retained at 22-24% for FY22

    Infosys raised its constant currency guidance to 16.5-17.5 percent for FY22, from 14-16 percent. However, it maintained the guidance for EBIT margin at 22-24 percent. (Read more on Infy Q2 results)

  • Infosys Q2 | Constant currency revenue growth at 6.3% vs estimate of 6.5% 

    Infosys reported 6.3 percent growth in Q2 revenue in constant currency terms. Analysts in a CNBC-TV18 poll had estimated revenue growth at 6.5 percent. (Read more on Infosys Q2 results here)

  • Infosys Q2 | Revenue at $3,998 million, meets Street estimates

    Infosys reported revenue of $3,998 million for the quarter ended September 30, meeting Street estimates.

    Analysts in a CNBC-TV18 poll had predicted the company's revenue at $3,991 million.

  • Infosys board announces interim dividend of Rs 15 per share for FY22

    The IT giant's board announced an interim dividend of Rs per share for the current financial year. 

    India Inc Earnings Highlights: Infosys beats Street estimate with net profit of Rs 5,421 crore, ups revenue guidance
  • Wipro Q2 | CFO Jatin Dalal says EPS growth robust at 23.8% YoY 

    Wipro Chief Financial Officer Jatin Dalal said the company has sustained its operating margins in Q2 in a narrow band even after absorbing the full impact of our recent acquisitions, and investing significantly in its business across sales, capabilities and talent.

    "We completed a salary increase covering 80% of our colleagues, making it the second hike in this calendar year. We delivered a robust growth in EPS of 23.8% YoY," he said.

  • Infosys Q2 Earnings | Net profit at Rs 5,421 crore, beats Street estimates; revenue meets expectations

    India Inc Earnings Highlights: Infosys beats Street estimate with net profit of Rs 5,421 crore, ups revenue guidance
  • Infosys Q2 Earnings | Net profit at Rs 5,421 crore, beats Street estimates; revenue meets expectations

    India Inc Earnings Highlights: Infosys beats Street estimate with net profit of Rs 5,421 crore, ups revenue guidance
  • Mindtree Q2 Earnings | Mindtree profit up 16% QoQ to Rs 399 crore, beats Street estimates

    Mindtree reported revenue of Rs 2,586.2 crore for the quarter ended September 30, up 12.8 percent sequentially. Analysts in a CNBC-TV18 poll had predicted the company to report a net profit of Rs 358 crore.

  • Wipro Q2 | CEO Thierry Delaporte says results demonstrate company's business strategy working well 

    Wipro CEO and Managing Director Thierry Delaporte said: “The Q2 results demonstrate that our business strategy is working well. We grew at over 4.5% organic sequential growth for a second quarter in a row, resulting in a 28% YoY growth in the first half of this financial year. I thank our customers, partners, and colleagues as we surpassed the $10Bn milestone of annualized revenue run rate.”

  • Wipro Q2 Earnings | Company expects December quarter IT services revenue to grow 2-4% sequentially 

    Wipro said it expects its IT services revenue to be in the range of $2,631 million-$2,683 million in the quarter ending December 31, translating into sequential growth of 2.0 percent to 4.0 percent.

  • Wipro Q2 Results | IT services revenue exceeds Street expectations

    Wipro reported revenue of Rs 19,760 crore from the IT services segment for the quarter ended September 30, beating Street estimates. Analysts in a CNBC-TV18 poll had predicted the IT major to report IT services revenue of Rs 19,183 crore. 

    The company's earnings before interest and taxes (EBIT) came in at Rs 3,492 crore, exceeding analysts' estimate of Rs 3,244 crore. 

  • Q2 Earnings | Wipro posts Rs 2,931 crore profit, down 9.6% QoQ

    Wipro reported a net profit of Rs 2,930.7 crore for the quarter ended September 30, down 9.6 percent sequentially. Revenue came in at Rs 19,667.4 crore in the second quarter of the current financial year, as against Rs 18,252.4 crore in the previous quarter. 

  • Q2 Earnings | Street expects Infy to revise revenue guidance up to 15-17%

    Analysts in a CNBC-TV18 poll expect Infosys to revise its revenue guidance up to 15-17 percent. (Read more on what to expect from Infosys, Wipro, Mindtree results)

    India Inc Earnings Highlights: Infosys beats Street estimate with net profit of Rs 5,421 crore, ups revenue guidance
  • What to expect from IT stocks now 

    The coronavirus crisis has turned the once defensive IT sector of Indian market into a major driving force. Until a few years ago, IT was considered as an export-driven, value-oriented defensive sector in the country, with tech giants such as TCS, Infosys, Wipro and HCL Tech well-known for their ability to generate free cash flows, brokerage Ventura Securities said in a note recently. (Read more on IT shares here)

  • Wipro shares up 76% in last 12 months

    Wipro shares have risen 76 percent in the last 12 months, and 58 percent in the last six alone.

    Here's how the Wipro stock has fared in the recent past:

    India Inc Earnings Highlights: Infosys beats Street estimate with net profit of Rs 5,421 crore, ups revenue guidance
  • Q2 Earnings | Mindtree expected to post Rs 358 crore profit 

    Analysts in a CNBC-TV18 poll expect Mindtree to report a net profit of Rs 358 crore over revenue of Rs 2,500 crore for the quarter ended September 30. 

    India Inc Earnings Highlights: Infosys beats Street estimate with net profit of Rs 5,421 crore, ups revenue guidance
  • How Infosys shares have fared in recent past

    Infosys shares have rewarded investors with a return of 46 percent in the past one year, and 21 percent in the last six months alone. (Catch LIVE market updates)

    India Inc Earnings Highlights: Infosys beats Street estimate with net profit of Rs 5,421 crore, ups revenue guidance
  • Q2 Earnings | Infosys Q2 profit expected at Rs 5,254 crore, revenue at Rs 29,570 crore

    Analysts in a CNBC-TV18 poll expect Infosys to report a net profit of Rs 5,254 crore over revenue of Rs 29,570 crore for the quarter ended September 30. 

  • TCS shares flat; Nifty IT index up 1.2%

    TCS shares were flat at Rs 3653 apiece on BSE in late afternoon deals. The Nifty IT index -- which has TCS, Infosys, Wipro and Mindtree among its 10 components -- was up 1.2 percent at 35,284.6. 
     
    Last week, Tata Consultancy Services (TCS) -- the country's largest IT company -- reported a net profit of Rs 9,624 crore for the quarter ended September 30, missing Street estimates. That marked growth of 6.8 percent compared with the previous quarter. The IT bellwether posted revenue of Rs 46,867 crore for the July-September period, up 3.2 percent on a quarter-on-quarter basis.
     
    Analysts in a CNBC-TV18 poll had predicted the company to report a quarterly profit of Rs 9,731 crore over revenue of Rs 47,466 crore. (Catch highlights of TCS Q2 earnings announcements)
     
  • Q2 Earnings | IT shares rise ahead of Infosys, Wipro, Mindtree results

    Here's how some of the Indian IT stocks have performed in the recent past: 

    Stock Return (%)
    Three months Six months One year
    TCS 15 18.1 29.7
    Infosys 9.5 21 46.1
    Wipro 25.7 57.6 75.6
    Mindtree 71.9 109.7 170.6
    HCL Tech 28.7 27.2 38.6
    Tech Mahindra 31.8 38.2 59.5

    Read more on Indian IT shares

  • Infosys, Wipro, Mindtree shares rise 1-2% ahead of Q2 results; BSE IT index up 1%

    Here's how members of the IT index fared in late afternoon deals: 

    India Inc Earnings Highlights: Infosys beats Street estimate with net profit of Rs 5,421 crore, ups revenue guidance
  • Infosys, Wipro, Mindtree to post Q2 earnings soon

    Infosys, Wipro and Mindtree will report their financial results for the September quarter later today. Last week, Tata Consultancy Services (TCS) kicked off the earnings season by reporting a set of quarterly results that fell short of Street estimates. (Read more on TCS Q2 results)

  • Welcome to CNBC-TV18's India Inc Earnings LIVE Blog

    Good evening, readers! Welcome to CNBC-TV18's coverage of India Inc earnings where we bring the latest news on the financial performance of some of India's top businesses. As the earnings season begins, be the first to catch the vital financials of the movers and shakers of Corporate India to make informed investment bets. We also get you instant reactions from our stellar lineup of TV guests and in-house editors, researchers and reporters.

    Have a great earnings season. Good luck!

India Inc Earnings Highlights: Infosys, Wipro and Mindtree reported their financial results for the July-September period on Wednesday, October 13. All three IT companies met Street expectations. Shares in Infosys, Wipro and Mindtree ended 1.4-2.3 percent higher ahead of the earnings announcements. Tata Consultancy Services (TCS) -- the country's largest IT services provider -- kicked off the corporate earnings season last week.