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Home / Companies / News /  IT majors Infy, TCS, Wipro to post Q2 earnings: What we know so far

IT majors Infy, TCS, Wipro to post Q2 earnings: What we know so far

Wipro and HCL’s results give the impression, like TCS and Infosys’s, that growth remains sluggish for Indian IT firms. Photo: Hindustan Times

  • IT behemoth Wipro and Infosys will announce the financial results for the second quarter on 12 October and 13 October respectively

The corporate results for the second quarter of the current fiscal (Q2FY23), July to September period, is around the corner.

The corporate results for the second quarter of the current fiscal (Q2FY23), July to September period, is around the corner.

Country's largest software services firm, Tata Consultancy Services (TCS), is all set to announce its Q2 results on 10 October.

Country's largest software services firm, Tata Consultancy Services (TCS), is all set to announce its Q2 results on 10 October.

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IT behemoth Wipro and Infosys will announce the financial results for the second quarter on 12 October and 13 October respectively.

Indian IT major Infosys could announce a share buyback along with its earnings for the second quarter ended September 2022 for the current fiscal (Q2 FY23), believe analysts at global brokerage Jefferies.

Automobile company Bajaj Auto will announce its second quarter results on 14 October. Private banking major HDFC Bank will announce its result on 15 October, while ICICI Bank will announce its second quarter result on 22 October.

Financial services company Bajaj Finserv will announce its results on 20 October.

The June-quarter earnings season was a disappointment in several ways. The headline figure is impressive: sales of Indian companies were up 36% year-on-year (y-o-y), against 21% in the March quarter, shows a Mint analysis. But this was in large part due to a low base, apart from better realizations.

The sequential growth momentum, a more useful metric due to the base effect, moderated to 2.1% from 9.4% due to weakening global demand, showed the analysis of 1,844 listed companies for which data is available. An escalation in input costs took a toll on profits, which contracted nearly 20% quarter-on-quarter (q-o-q) after a 13.5% growth in the March quarter.

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Global headwinds are likely to slow down the momentum even further and impact earnings in the medium term, even though some relief is possible from the recent fall in input prices and strong pent-up demand that could drive growth in the ongoing quarter, market observers said.

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