BackQ3 results: Wipro, HCL Tech to consider interim dividend for FY22
Markets are expecting robust guidance from Indian IT companies that may reflect in upcoming quarterly results.Wipro Ltd's board will meet on 11-12 January to declare their results
PremiumAfter a strong forecast and record deal pipeline from IT bellwether company Accenture, all eyes are on the Indian IT heavyweights' December quarter performance with results announcement just days away.
Markets are expecting robust guidance from Indian IT companies that may reflect in upcoming quarterly results.
Wipro Ltd's board will meet on 11-12 January to declare their results and also the company will consider announcing an interim dividend on 12 January for the current financial year 2021-22.
The trading window for dealing in the securities of the company has been closed from 16 December till closing hours of January 14, 2022, the company informed the stock exchanges.
Wipro had reported a consolidated net profit of ₹2,931 crore for the September quarter, which is of 19% higher from a year ago, while consolidated revenue grew 30% to ₹19,667 crore during the same period.
On Friday, Wipro shares have risen 0.45% to close at ₹697.65 on NSE. In the last one month, the scrip has surged 9.57% and risen by a massive near 80% so far since the start of 2021 (Year-to-Date) period.
After the semi-annual rejig of BSE Sensex, Wipro has recently replaced two-wheeler major Bajaj Auto on Sensex. According to Edelweiss Alternative Research, this rejig would mark the inflows of $154.3 million in Wipro.
Meanwhile, another IT heavyweight Infosys will also be announcing its Q3 results on 12 January. HCL Tech said it will declare its results for the three months ended December period on 14 January and the company's board will also consider approving a fourth interim dividend for the current financial year.
"The record date for determining the entitlement of the shareholders for the payment of interim dividend shall be January 22, 2022," HCL Tech said in a statement.
IT consulting firm Accenture recently has forecast better-than-expected second-quarter revenue, as more clients seek its cloud and security services.
Accenture now expects full-year revenue to grow between 19% and 22% from 12% to 15% forecast earlier.
Revenue for the quarter ended 30 November jumped 27% to $14.97 billion, compared with analysts' average estimate of $14.19 billion, according to Refinitiv IBES data.
Meanwhile, new bookings were at a record $16.8 billion in the first quarter, a 30% increase in both US dollars and local currency from the first quarter last year, with record consulting bookings of $9.4 billion and outsourcing bookings of $7.4 billion.
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