Tag: riseinprofit

India's second top IT company Infosys Ltd announced its earnings for the third quarter ended December 2022 for the current fiscal or Q3 FY23 on Thursday, after market hours. It reported a 13.4 percent rise in its consolidated net profit for the quarter that ended December 2022 at Rs 6,586 crore. The Company reported a net profit of Rs 5,809 crore in the same quarter last year. Its consolidated revenue from operations increased 20.2 percent to Rs 38,318 crore against Rs 31,867 crore in the corresponding quarter last year, Infosys said in an exchange filing. The reported numbers beat estimates. According to a poll of brokerages, consolidated revenue was expected to come in at Rs 37,613 crore, up 18 percent year-on-year (YoY) growth. In comparison, consolidated profit after tax (PAT) was estimated to increase 10.5 percent YoY to Rs 6,418 crore. Read more

The IT services major Tech Mahindra reported a 39.17 percent year-on-year (YoY) jump in its consolidated net profit at Rs 1,353.2 crore for the April-June period of the financial year 2021-22 (Q1FY22) as against Rs 972.3 crore posted in the corresponding quarter last year. The Company reported Rs 1,081.4 crore in the quarter ended March 2021 which rose by 25.13 percent. The IT services major reported a 4.8 percent quarter-on-quarter rise in consolidated revenues to Rs 10,198 crore for the reported quarter, which was slightly above analysts’ expectations. The consolidated revenue from operations in June 2021 quarter grew 11.98 percent YoY at Rs 10,197.6 crore. The company had posted revenue of Rs 9,106.3 crore in the same period a year ago. Its earnings before interest and tax were down 3.6 percent at Rs 1,545.3 crore versus Rs 1,603.7 crore and the margin was at 15.2 percent versus 16.5 percent, QoQ.The dollar revenue was up 4.1 percent at $1,383.6 million against $1,329.6 million. Read more