India’s largest IT services provider Tata Consultancy Services and its rivals Infosys and Wipro will announce their third quarter results today i.e. on January 12. The December quarter has been weak for the IT sector on the back of year-end holidays but experts say most companies may report a growth in their earnings on the back of secular, broad-based demand trends, good deals and active mergers and acquisitions. Huh.
Experts say that TCS’s consolidated profit is expected to grow 14.5 per cent year-on-year to Rs 9,965 crore in the third quarter (October-December) of FY22, while consolidated earnings are expected to grow 15.6 per cent to Rs 48,545 crore.
In the corresponding quarter of the last financial year, the company’s profit was Rs 8,701 crore and income was Rs 42,015 crore. In the previous quarter (July-September) of FY22, consolidated profit stood at Rs 9,624 crore and income at Rs 46,867 crore.
Brokerage firm Motilal Oswal has forecast a 2.4 per cent jump in dollar earnings to $6482 million, while in rupee terms, earnings are expected to grow by 4.6 per cent to Rs 49,000 crore. It can see an increase of 16.6 percent on a yearly basis.
Kotak Institutional Equities expects 14.7 per cent year-on-year growth in the company’s earnings to Rs 48,200 crore.
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TCS’s profit is expected to grow at 11 per cent to 17 per cent for the quarter on a year-on-year basis.
According to Motilal Oswal, profit on a year-on-year basis is expected to rise 17.1 per cent to Rs 10,200 crore, which could be 6 per cent higher on a sequential basis.
Emkay expects profit growth of 14.4 per cent year-on-year and 3.4 per cent quarter-on-quarter and has projected a net income of Rs 9,951 crore.
Kotak expects a 10.8 per cent year-on-year growth in profits to Rs 9,645 crore. Due to which it can see an increase of 0.2 percent.
On Tuesday, January 11, the shares of TCS closed at Rs 3,915.90, up 0.9 per cent on the National Stock Exchange. It gave a return of 23.3 per cent last year and 4.8 per cent this fiscal. The stock has gained 7.7 per cent in the last one month.
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