Q3 results today: HCL Tech, Wipro, 10 other companies to declare Q3 results 2024 on Friday

Q3 results 2024: Wipro and HCL Technologies to declare Q3 results today along with 10 other companies. Expectations for Wipro's and HCL Tech's Q3 results discussed by market experts.

Asit Manohar
Updated12 Jan 2024, 09:16 AM IST
Q3 results today: After the announcement of Q3 results 2024 of Infosys and TCS, the focus has now shifted towards other IT majors like Wipro, HCL Tech, Tech Mahindra, etc
Q3 results today: After the announcement of Q3 results 2024 of Infosys and TCS, the focus has now shifted towards other IT majors like Wipro, HCL Tech, Tech Mahindra, etc

Q3 results today: Despite speculations about a global slowdown, Indian companies reported strong quarterly results in the April to June 2023 quarter. The performance improved further in the July to September 2023 quarter after a better-than-expected recovery in the Indian economy. 

The Indian economy has managed to keep inflation under control throughout the year, which is expected to fuel industrial and other demands in India. Hence, market observers and stock market investors are expected to remain vigilant about the Q3 results 2024 season as it would enable them to find out the fundamentals of the stocks they are mulling to add to their portfolio or they already have that stock in their portfolio.

Q3 Earnings calendar for today

The results season for October to December kick-started after the announcement of Q3 results 2024 by Infosys, Tata Consultancy, HDFC AMC, and some more listed companies. Now the focus has shifted towards other IT majors like Wipro, HCL Tech, Tech Mahindra, etc. Wipro and HCL Technologies are going to declare their Q3 results today along with 10 more companies. Other 10 companies that are going to declare their third quarter numbers for the current fiscal include HDFC Life, Anand Rathi, Just Dial, Tata Metaliks, JTL Industries, etc.

We list out what market experts expect from some of the major companies that are going to declare their Q3 results today.

Wipro Q3 results 2024

The Indian IT major is going to declare its Q3 results today for the financial year 2023-24. Infosys Q3 results will be declared after 3:30 PM on Friday.

Also Read: Wipro Q3 Results Live Updates: IT major likely to see drop in revenue, EBIT margin; profit may grow 2% QoQ

Speaking on Wipro Q3 results 2024, Dhruv Mudaraddi, Research Analyst at StoxBox said, "We expect Wipro’s Q3FY24 revenue to decline in low single digits QoQ due to a lower services income owing to weakness in BFSI and Hi-tech verticals, along with challenges in the consulting business. Margins in the services business are expected to decline slightly, with the impact of a one-month wage hike and furloughs being offset by operational efficiencies. Overall EBIT margins are also expected to dip marginally, attributed to soft sales performance and the impact of wage hikes effective from December 1, 2023. on the size and nature of large deals in the quarter, margin levers, any signs of stabilization in discretionary project ramp-downs, and the impact of attrition among senior leadership."

HCL Tech results for Q3FY24

HCL Tech Q3 results 2024 will be declared on Friday after 3:30 PM.

On what one can expect from the IT major from its Q3 results today, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, "We believe that the company's revenue is poised to rise by 5.25% on a QoQ basis, reaching 28,075 CRORE, showcasing steady growth from the previous 26,672 crore. Our optimistic outlook extends to the company's operational performance, with the expectation of a robust 6.73% increase in operating profit on a QoQ basis, projecting it to reach 5,250 crore compared to the prior quarter's 4,919 crore. In terms of the bottom line, we foresee a promising 7.5% QoQ increase in profit after tax, with an estimated figure of 4,118 crore, as opposed to the previous 3,832 crore."

Also Read: HCL Tech Q3 Results Live Updates: HCL Technologies may see 5.2% QoQ revenue growth; net profit, EBIT margins to rise

"We expect HCL Tech’s Q3FY24 revenue to grow in the mid-single digits QoQ driven by the Verizon deal ramp-up, the additional contribution from the ASAP Group acquisition for two months, and the seasonality benefits in Products and Platform (P&P) business. EBIT margins are also expected to improve owing to cost efficiencies, seasonal strength in the high-margin P&P business, and forex benefits. However, this improvement will be partly offset by wage hikes, furloughs, and the costs associated with large deal ramp-ups. Further, we would be looking out for comments on recovery of ERS demand after a sharp decline, updates on large deals won in past quarters, and updates on the acquisition strategy and capital allocation policy," said Dhruv Mudaraddi of StoxBox.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decision.

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First Published:12 Jan 2024, 09:16 AM IST
HomeCompaniesCompany ResultsQ3 results today: HCL Tech, Wipro, 10 other companies to declare Q3 results 2024 on Friday

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