Coforge, Cyient outliers amid weak quarter for tech services
1 year, 2 months ago

Coforge, Cyient outliers amid weak quarter for tech services

Live Mint  

Mid-cap information technology service providers, Cofo-rge and Cyient Group, proved outliers in their September quarter earnings filed at the BSE on Thursday. While bellwether large-caps, as well as mid-cap firms such as Larsen & Toubro Technology Services, Persistent Systems and Zensar Technologies, largely offered bleak September quarter figures and cautious commentary for the rest of this fiscal, both Coforge and Cyient group outperformed peers in maintaining operating margin and profitability—despite macroeconomic headwinds. Cyient reported September quarter revenue of $214.9 million for the entire group—up 4.6% sequentially and 22.3% year-on-year in constant currency. Sudhir Singh, chief executive of Coforge, said in a press statement that the company will retain its FY24 revenue growth guidance of 13-16%, as well as its 50bps margin expansion target.

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History of this topic

Near-term headwinds may halt Coforge’s sizzling rally
1 week, 1 day ago

Near-term headwinds may halt Coforge’s sizzling rally

Live Mint  

Coforge Ltd stock has delivered mouth-watering returns to its investors in a matter of months. For instance, Coforge management recently told analysts at Nirmal Bang Institutional Equities that deal closures in the December quarter remained better than expected at the start of the quarter. The Nirmal Bang report dated 12 December further highlighted that there was strong show of confidence …

These companies post over 45% YoY rise in Q2 profits even as downgrades increase
1 month ago

These companies post over 45% YoY rise in Q2 profits even as downgrades increase

Live Mint  

In its latest earnings review, Motilal Oswal Financial Services observed that earnings performance for the MOFSL Universe was in line with expectations, showing a 1 per cent year-on-year decline. Hindalco: Aditya Birla Group’s Hindalco Industries Ltd reported an impressive 123.3 per cent YoY increase in net profit, reaching ₹1,891 crore for Q2 FY25, driven by robust operational performance in its …

Trent Q2 Results: Profit grows 47% YoY to ₹355 crore, revenue rises 39%
1 month, 2 weeks ago

Trent Q2 Results: Profit grows 47% YoY to ₹355 crore, revenue rises 39%

Live Mint  

Trent Q2 Results: Trent Ltd, a Tata Group company, posted a 46.9 per cent year-on-year growth in consolidated net profit for the September quarter to ₹355.06 crore on Thursday, November 7. On a standalone basis, Trent's revenue jumped 39 per cent YoY to ₹4,035.56 crore while the net profit rose 46.18 per cent YoY to ₹423.44 crore. In an otherwise …

Coforge Soars 12.3% to Record High on Strong Q2 Results
Trending News
2 months ago

Coforge Soars 12.3% to Record High on Strong Q2 Results

Live Mint  

Coforge's Q2FY25 results are strong, with a 24.2% increase in consolidated net profit and significant growth in revenue and order book. The company also announces the acquisition of Cigniti Technologies for $220 million, which is expected to boost its growth trajectory. The stock price has surged 78% from its 52-week low in May 2024, reflecting investor confidence in the company's …

TCS Q1 results: Net profit grows 8.7% to ₹12,040 crore
5 months, 1 week ago

TCS Q1 results: Net profit grows 8.7% to ₹12,040 crore

The Hindu  

Tata Consultancy Services Ltd reported consolidated first quarter net profit grew 8.7% year on year to ₹12,040 crore despite degrowth in several business YoY. Commenting on the results K Krithivasan, Chief Executive Officer and Managing Director, TCS said: “I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets.” “We are …

TCS Q1 Results Beat Estimates: Net Profit Up 9% to Rs 12,040 Crore, Rs 10 Dividend Declared
5 months, 1 week ago

TCS Q1 Results Beat Estimates: Net Profit Up 9% to Rs 12,040 Crore, Rs 10 Dividend Declared

News 18  

Tata Consultancy Services, India’s largest IT services company, on Thursday reported a 9 per cent rise year-on-year in its consolidated net profit to Rs 12,040 crore for first quarter of the financial year 2024-25 ended June 30. “We would like to inform you that at the Board Meeting held today, the Directors have declared an interim dividend of ₹ 10 …

Coforge Q4 Results Live : profit rise by 94.86% YOY
7 months, 2 weeks ago

Coforge Q4 Results Live : profit rise by 94.86% YOY

Live Mint  

Coforge Q4 Results Live : Coforge declared their Q4 results on 02 May, 2024, revealing a topline growth of 8.69% and a significant profit increase of 94.86% YoY. Despite recent negative returns in the last week, 6 months, and YTD, Coforge currently holds a market cap of ₹30822.09 Cr. As of 04 May, 2024, analyst ratings for Coforge indicate 3 …

Coforge share price falls 10% after Q4 results, brokerages cut target prices: Details
7 months, 3 weeks ago

Coforge share price falls 10% after Q4 results, brokerages cut target prices: Details

Hindustan Times  

Coforge share price: Shares of Coforge Ltd fell as much as 10 per cent to ₹4505.25 today after the company announced its quarterly earnings for the March 2024 quarter, dividend and acquisition plans of Cigniti Technologies. Coforge share price falls 10% after Q4 results, brokerages cut target prices Coforge Q4 results Coforge reported a consolidated net profit of ₹223.7 crore …

TCS headcount dropped by over 13,000 in the previous fiscal: Report
8 months, 1 week ago

TCS headcount dropped by over 13,000 in the previous fiscal: Report

Hindustan Times  

Information technology giant Tata Consultancy Services has reported a slump in its headcount for the third consecutive quarter, a first in 19 years. In fiscal 2022, TCS had added 103,546 employees, while the number stood at 40,185 employees in FY21 As per the report, TCS headcount dropped by over 13,249 for the financial year, and on a sequential basis, the …

Wipro Q3 profit declines 12 per cent YoY to Rs 2,694 crore, revenue falls over 4 per cent
11 months, 1 week ago

Wipro Q3 profit declines 12 per cent YoY to Rs 2,694 crore, revenue falls over 4 per cent

India TV News  

Wipro reported a 12 percent year-on-year decline in net profit at Rs 2,694 crore for the third quarter of the current financial year. Revenue from IT business The company's revenue from its IT business declined by 1.1 per cent to Rs 22,151 crore. On Thursday, Tata Consultancy Services posted an 8.2 per cent growth in net income for the third …

TCS Q3 Results: Net Profit Rises 8.2% To Rs 11,735 Crore, Revenue Up 4%; Rs 18 Special Dividend Declared
11 months, 1 week ago

TCS Q3 Results: Net Profit Rises 8.2% To Rs 11,735 Crore, Revenue Up 4%; Rs 18 Special Dividend Declared

News 18  

Tata Consultancy Services, India’s largest IT services company, on Thursday posted a growth of 8.2 per cent year-on-year in its net profit to Rs 11,735 crore for the third quarter ended December 2023. Its revenue during October-December 2023 rose 4 per cent year-on-year to Rs 60,583 crore driven by strong double-digit growth in emerging markets, led by India. “We would …

TCS Q3 net profit rises 2 per cent to Rs 11,058 crore, revenue surges 4 per cent YoY
11 months, 1 week ago

TCS Q3 net profit rises 2 per cent to Rs 11,058 crore, revenue surges 4 per cent YoY

India TV News  

India's largest IT services company, Tata Consultancy Services, reported a net profit of Rs 11,058 crore in the quarter ended December 31, 2023, marking a 2 percent YoY increase from Rs 10,846 crore in the corresponding quarter of the previous fiscal year. Consolidated revenue rose 4 percent YoY, reaching Rs 60,583 crore in the three months to December 31, according …

TCS, Infosys, Wipro, HCL Tech: Hiring In IT Sector To Remain Slow For 2-3 Quarters, Says Report
1 year ago

TCS, Infosys, Wipro, HCL Tech: Hiring In IT Sector To Remain Slow For 2-3 Quarters, Says Report

News 18  

IT companies in India, including TCS, Infosys, HCL Tech and Wipro, have hired fewer employees in the past four quarters, due to demand slowdown, reduction in attrition levels and excessive hiring during the pandemic, according to a report by ratings agency ICRA. However, the average last twelve-month attrition for IT companies declined to 14 per cent as of September 2023, …

Coforge Q1 FY24 results: profit rise by 10.42% YOY
1 year, 2 months ago

Coforge Q1 FY24 results: profit rise by 10.42% YOY

Live Mint  

Coforge, the technology solutions provider, declared their Q1 FY24 results on 19 Oct, 2023. The company reported a significant growth in both revenue and profit compared to the previous year. In terms of quarterly performance, Coforge witnessed a 2.35% growth in revenue and a remarkable 43.99% increase in profit compared to the previous quarter. Out of the 27 analysts covering …

Infosys shares fall, raising demand worries for Indian IT sector
1 year, 2 months ago

Infosys shares fall, raising demand worries for Indian IT sector

The Hindu  

Shares of Infosys, India's No. 2 IT services provider, fell as much as 4.5% on Friday after a cut to the upper end of the company's annual revenue forecast fanned further worries of a delay in demand recovery in the sector. Several analysts said the IT company's move to cut outlook for the second straight quarter was emblematic of near-term …

TCS Q2 Results: Net Profit Rises 8.7% YoY To Rs 11,342 Crore, Rs 9 Interim Dividend Declared
1 year, 2 months ago

TCS Q2 Results: Net Profit Rises 8.7% YoY To Rs 11,342 Crore, Rs 9 Interim Dividend Declared

News 18  

Tata Consultancy Services, India’s largest IT services company, on Wednesday kick-started India’s Q2FY24 earnings season. The company posted an 8.73 per cent growth in its net profit to Rs 11,342 crore for the September 2023 quarter. The board of directors also approved a proposal to buyback up to Rs 4,09,63,855 equity shares of the company for an aggregate amount not …

Buy TCS, Infosys; Sell Wipro, Tech Mahindra: Goldman Sachs recommends
1 year, 4 months ago

Buy TCS, Infosys; Sell Wipro, Tech Mahindra: Goldman Sachs recommends

Live Mint  

Goldman Sachs has initiated coverage on six Indian Information Technology services companies and expects the sector to see growth amid tailwinds from Generative AI and pent-up demand. While our overall sector revenue growth is in line with consensus, we see company specific divergence, and are ahead of consensus on Infosys and TCS,” Goldman Sachs said in a note. TCS is …

India IT services biz set to sink to three-year lows in March qtr
1 year, 8 months ago

India IT services biz set to sink to three-year lows in March qtr

Live Mint  

NEW DELHI : Homegrown IT services firms are likely to close the last financial year on a sombre note, with analysts predicting three-year lows for the sector on various metrics such as deal bookings and revenue growth. The March quarter performance could also set the tone for FY24, in which experts expect deferred deals for the industry leading to slower …

Infosys set to pip Cognizant to become 2nd-largest IT services firm
1 year, 10 months ago

Infosys set to pip Cognizant to become 2nd-largest IT services firm

Live Mint  

Cognizant Technology Solutions Corp. saw its revenue slip sequentially in the October-December period and forecast business to fall further in the January-March period, helping Infosys Ltd race past the Nasdaq-listed technology firm to become the second-largest homegrown IT services firm. Infosys, which posted $4.66 billion in revenue in the October-December period, expects to grow between 16% and 16.5% in constant …

Wipro's Q3 profit up 2.8% year on year to ₹3,053 crore; revenue up by 14%
1 year, 11 months ago

Wipro's Q3 profit up 2.8% year on year to ₹3,053 crore; revenue up by 14%

Hindustan Times  

Indian IT services firm Wipro reported a bigger-than-expected profit for the third quarter on Friday, boosted by a strong deal pipeline. Wipro Q3 results The Bengaluru-based company's net profit rose 2.8% to ₹30.53 billion for the quarter ended December 31. Wipro forecast revenue growth from the IT services business for the year ending March 2023 in the range of 11.5% …

Amid slowdown & rising caution, will IT firms deliver another weak quarter?
1 year, 11 months ago

Amid slowdown & rising caution, will IT firms deliver another weak quarter?

Live Mint  

Indian IT stocks underperformed in 2022 amid warnings of a potential slowdown in business on global recession fears and earnings downgrades. The IT Services sector is expected to report moderate growth in Q3FY23, primarily on account of the seasonally weak quarter and slowing growth momentum led by uncertainties in the US and UK. The brokerage expects large caps to outperform …

Infosys closing the gap with Cognizant in terms of revenues
2 years, 1 month ago

Infosys closing the gap with Cognizant in terms of revenues

Live Mint  

Cognizant's September 2022 quarter revenue growth of 5.6% was below guidance of 7.5-8.5% as execution challenges hit performance. Cognizant cuts its CY2022E revenue growth guidance to 7% from 8.5-9.5% in the June 2022 quarter, and 8.5-11.5% at the beginning of the year. "Revenue and bookings were below our expectations as company specific fulfillment challenges were compounded by the impact of …

Wipro Q2 results: Will the IT giant improve profitability YoY? Key highlights
2 years, 2 months ago

Wipro Q2 results: Will the IT giant improve profitability YoY? Key highlights

Live Mint  

Ahead of its Q2 earnings, IT-major Wipro shares were under pressure on Tuesday. Sameer Pardikar and Sujay Chavan Research Analysts at ICICI Direct in their Q2 preview report for Wipro said, "We expect the company to report 4% QoQ CC growth in revenues in IT services. ICICI Direct analysts expect Wipro to report a revenue of ₹22,722.2 crore up by …

TCS Q2: Net profit rises by 8.3% to ₹10,431 cr
2 years, 2 months ago

TCS Q2: Net profit rises by 8.3% to ₹10,431 cr

Live Mint  

The country's largest software services firm, Tata Consultancy Services, on Monday reported a 8.3 per cent rise in consolidated net profit to ₹10,431 crore for the September 2022 quarter. This is against a net profit of ₹9,624 crore in the year-ago period, TCS said in a regulatory filing. The consolidated revenue of the IT major grew by 18 per cent …

TCS, Infosys Downgraded By Goldman Sachs From 'Buy' To 'Sell', Wipro Upgraded; Check Details
2 years, 3 months ago

TCS, Infosys Downgraded By Goldman Sachs From 'Buy' To 'Sell', Wipro Upgraded; Check Details

News 18  

Goldman Sachs has downgraded India’s major IT services companies Tata Consultancy Services and Infosys from ‘buy’ to ‘sell’ citing a potential slowdown in their dollar revenue growth amid impending global macroeconomic stress. For the June 2022 quarter, TCS reported a consolidated net profit of Rs 9,478 crore, a jump of 5.2 per cent on a year-on-year basis. The company’s revenue …

TCS, Infosys, HCL Tech: Indian IT Companies' Growth Expected To Pick Up In June Quarter Results
2 years, 5 months ago

TCS, Infosys, HCL Tech: Indian IT Companies' Growth Expected To Pick Up In June Quarter Results

News 18  

Even as the earnings season for the June 2022 quarter starting this week with IT company TCS first declaring its financial results on Friday, analysts said the growth of Indian IT companies is expected to pick up in the first quarter, barring weakness in a few companies due to company-specific events. We expect Wipro to guide for 1-3 per cent …

IT services firms likely to report strong revenue in Q1
2 years, 5 months ago

IT services firms likely to report strong revenue in Q1

Live Mint  

Top Indian IT services companies are expected to report strong revenue growth of 2.3-4.3% quarter-on-quarter in constant currency during the fiscal first quarter ended June, according to analysts. However, the peak revenue growth of these companies is likely to be behind them and the momentum is expected to start softening from H2 FY23 due to absence of large deal wins …

TCS vs Infosys Q4 results: Who performed better during Covid-19 pandemic?
2 years, 8 months ago

TCS vs Infosys Q4 results: Who performed better during Covid-19 pandemic?

India Today  

Tata Consultancy Services and Infosys have announced their results for the fourth quarter of financial year 2021-22 that ended on March 31. PROFIT India's largest IT firm, TCS, has reported a 7.4 per cent increase in its March quarter net profit to Rs 9,926 crore. India's second-largest software services company, Infosys, saw its net profit in the March quarter surge …

TCS results: Revenue crosses Rs 50,000 crore, net profit rises | Top points
2 years, 8 months ago

TCS results: Revenue crosses Rs 50,000 crore, net profit rises | Top points

India Today  

Tata Consultancy Services on Monday announced its fourth quarter results for the financial year 2021-22. TCS revenue crossed Rs 50,000 crore for the first time as it rose 15.8 per cent to Rs 50,591 crore in Q4. TCS's net profit was up by 1.6 per cent at Rs 9,926 crore against Rs 9,769 in the third quarter. The revenue saw …

TCS Q4 profit misses estimates at ₹9,926 cr, declares dividend
2 years, 8 months ago

TCS Q4 profit misses estimates at ₹9,926 cr, declares dividend

Live Mint  

Tata Consultancy Services, India's largest IT services company, on Monday posted consolidated net profit of ₹9,926 crore for the quarter ending 31 March, 2022, up 7% from ₹9,246 crore a year ago. Increasing participation in our customers’ growth and transformation journeys, and an all-time high order book provide a strong and sustainable foundation for continued growth ahead,” said TCS MD …

TCS, Infosys Q4 Results: IT Sector's Revenue Growth To Moderate in March Quarter?
2 years, 8 months ago

TCS, Infosys Q4 Results: IT Sector's Revenue Growth To Moderate in March Quarter?

News 18  

Information technology stocks like TCS and Infosys have been giving good returns for quite some time. We expect strong demand commentary from IT majors led by Infosys with revenue growth guidance of 11-13 per cent year-on-year CC for FY23.? It said Infosys and TCS are expected to post 1.4-5.5 per cent q-o-q growth CC in revenues, while Mindtree and Coforge …

TCS Q4 results: Tata Consultancy Services' profit rises 14.9% to Rs 9,246 crore in fourth quarter
3 years, 8 months ago

TCS Q4 results: Tata Consultancy Services' profit rises 14.9% to Rs 9,246 crore in fourth quarter

India TV News  

The country's largest software services firm Tata Consultancy Services on Monday reported a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore for the March 2021 quarter. The revenue of the IT major grew 9.4 per cent in the quarter under review to Rs 43,705 crore from Rs 39,946 crore a year ago, it added. The revenue …

Digital boom helps TCS beat estimates
3 years, 11 months ago

Digital boom helps TCS beat estimates

Live Mint  

Tata Consultancy Services Ltd is targeting a double-digit growth in revenue this financial year on hopes that it will continue to benefit from the pandemic-induced boom in digital and cloud services. Chief executive Rajesh Gopinathan said the company recorded its fastest revenue growth in nine quarters in the three months ended 31 December as clients embraced digital transformation because of …

TCS net profit dips nearly 14% to ₹7,008 crore in Q1, misses estimates
4 years, 5 months ago

TCS net profit dips nearly 14% to ₹7,008 crore in Q1, misses estimates

Live Mint  

Tata Consultancy Service, India's biggest software services exporters, on Thursday reported nearly 14 per cent year-on-year fall in net profit at ₹7,008 crore for quarter ended June 20. India's biggest IT company reported 0.94%% year-on-year fall in profit at ₹8,049 crore for the March quarter. Commenting on TCS' Q1 performance, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said, "The …

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