Q2 Update: IT giants Infosys, Wipro to announce Sept quarter results on THESE dates, dividend ahead

Information technology (IT) giants Infosys and Wipro will announce their July-September quarter results for fiscal 2024-25 (Q2FY25) in October 2024 and will likely consider interim dividends if approved by the respective boards. The IT majors also announced that the trading window for dealing in the companies' securities will be closed for a period of time while declaring the result dates.

Earlier this week, India's top software services giant, Tata Consultancy Services (TCS), announced that it will conduct its board meeting on October 10, 2024, to consider its Q2FY25 results. India's largest information technology (IT) services provider will also consider its second interim dividend for FY25 on the same day. Also, India's third-largest software and IT service giant HCL Technologies will declare its Q2FY25 results on Monday, October 14, 2024.

Also Read: TCS Q2 Update: IT giant to declare July-Sept quarter results on THIS date, consider second interim dividend for FY25

Infosys Q2 Update

India's second-largest software services provider announced that it will hold its board meeting on October 16 and 17 to consider its Q2FY25 results and an interim dividend, if any, as approved by the board. 

“The financial results and proposal for interim dividend, if any, will be presented to the Board of Directors on October 17, 2024 for their approval,” said Infosys in a regulatory filing to the stock exchanges.

Infosys will close the trading window for the earnings release of the quarter ending September 30, 2024 including interim dividend (if any) in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended. Accordingly, the trading window will be closed from September 16, 2024 and will re-open on October 21, 2024.

Also Read: IT Sector Q2 Results Preview: TCS, Infosys likely to lead revenue growth, margins to remain mixed

Infosys will hold investor/ analyst calls on October 17, 2024 to discuss the financial results for the quarter ending September 30, 2024 and business outlook," said the leading IT services major in its statement.

Wipro Q2 Update

India's fourth-largest software services company announced on Tuesday, October 1, that it will hold its board meeting on October 16 and 17 to consider its Q2FY25 results. “The financial results would be finally approved by the Board of Directors on the evening of October 17, 2024,” said Wipro in a regulatory filing to the stock exchanges.

“It is further informed that the trading window for dealing in the securities of the Company has been closed from September 16, 2024 till the close of trading hours of October 19, 2024 (both days inclusive),” added Wipro in its statement.

Also Read: HCL Tech to declare Q2 results on THIS date, consider third interim dividend for FY25: Record date fixed

TCS, HCL Tech to consider dividends

TCS announced that if it considers its second interim dividend for FY25 while releasing the second quarter results, it will be paid to the company's equity shareholders. The record date for the dividend payment for the share beneficiaries is fixed as Friday, October 18, 2024.

HCL Tech announced that the board will consider paying its third interim dividend for FY25 on October 10, 2024, while announcing Q2FY25 results. The record date for the interim dividend has been fixed on Tuesday, October 22, 2024.

IT Sector Q2 Results Preview

IT majors are projected to report improved earnings growth in the second quarter of FY25 compared to the first quarter. This growth is expected to be driven by an uptick in hyper-scaler momentum, robust performance in North America following a period of stagnation, and positive trends in the healthcare sector. 

Brokerage firm Motilal Oswal Financial Services forecasts a year-on-year (YoY) growth of 5.1 per cent in aggregate revenue, five per cent in EBIT, and 5.3 per cent in net profit for IT stocks within its coverage universe for the July-September quarter of FY25.

Also Read: Nifty 50 October Outlook: Indian index shows strong seasonal trends, gains in 8 of the last 10 years

For Tier-I companies, revenue growth is expected to range from flat to three per cent quarter-on-quarter (QoQ) in Constant Currency (CC) terms. Meanwhile, Tier-II companies are projected to experience revenue growth between flat to +4.5% QoQ CC.

“Mid-tier companies should continue to do well, though, especially companies with strong offerings in data engineering and ERP modernization, and we expect their growth outperformance to be sustained over the medium term,” said the brokerage firm.

The brokerage expects Infosys and TCS to report relatively strong QoQ growth of three per cent and one per cent in CC terms, respectively, while HCL Tech is anticipated to show flat growth in Q2FY25. Tech Mahindra and Wipro are also projected to remain flat QoQ, whereas LTIMindtree could post a healthy growth of three per cent.

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