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In a first, TCS, Infosys, Wipro results on same day. Market watchers trade memes, jokes

January 12
15:31 2022

For the first time, India’s three top infotech companies – Tata Consultancy Services (TCS), Infosys and Wipro – are kicking off the IT results season for October-December on the same day.

The quarterly earnings of TCS, Infosys, Wipro are being announced on the same day.

The quarterly earnings of TCS, Infosys, Wipro are being announced on the same day.

For the first time, India’s three top infotech companies – Tata Consultancy Services (TCS), Infosys and Wipro – will kick off the IT results season for October-December on the same day — Wednesday — followed by HCL Tech on Friday.

With three companies reporting their earnings back-to-back on Wednesday, market watchers and IT analysis had a field day, anticipating the rush of information that is headed their way in a matter of just four hours.

Close observers of TCS, Infosys and Wipro exchanged memes and jokes in the run-up to the announcement of the results.

The last two quarters have been some of the best for IT and even the seasonally weak October-December period, sector due to the year-end holidays, is likely to be no different as unprecedented demand driven by the shift to digital amid the coronavirus pandemic boosted the sector.

IT majors are expected to report robust revenue growth and will remain on pace to see double-digit growth in FY22 as demand momentum continues.

Brokerage firm Kotak Institutional Equities pegs that Wipro, Tech Mahindra and HCL Tech will deliver 4.5 percent growth in constant currency whereas Infosys and TCS will grow at 3.7 percent and 2.6 percent respectively.

Analysts expect Infosys to up its revenue guidance from 16.5-17.5 percent to 17-18 percent. HCL Tech had guided for double digit growth for financial year 2022. While TCS does not share guidance, the management is confident about double digit growth in financial year 2022.

Moneycontrol News

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