Infosys Earned Rs 64 Crore/Day In Last 90 Days; Wipro Earned Rs 33 Crore Per Day: Revenues, Profits Increase

With the fourth quarter of the ongoing financial year started, companies are lining up to release their earnings report for the December-ending quarter. 

While this will be a busy month for companies and a volatile period for market investors and analyst, everyone has been eagerly looking forward to the quarterly earnings report of IT giants Infosys, TCS and Wipro, as the IT sector has boomed in 2021, backed by swift shift in work models, rapid digital transformation and loads of attractive investments.

IT companies in the country have been nothing but bullish in 2021, with behemoths like TCS, Infosys and Wipro leading the line.

In this article, we will present the quarterly earnings report for the December 2021 quarter for IT giants Infosys and Wipro.

Infosys

On Wednesday, the company reported a consolidated net profit of Rs 5,809 crore, rising 12% on a YoY basis, compared to Rs 5,197 crore reported in the same period last year.

Infosys’s revenue from operations also grew 23% to Rs 31,867 crore on a YoY basis, and 7.7% on a QoQ basis, compared to Rs 25,927 crore in the quarter ending Dec-2020.

The Bengaluru-based firm said it delivered a strong Q3 performance with sequential growth in a seasonally weak quarter. Infosys outlined that its growth remained broad-based and dealt with momentum robustly, with digital transformation rapidly scaling across verticals and regions, stated a TOI report.

By winning large deals, Infosys’ total contract value grew $2.53 billion in Q3, with a healthy operating margin at 23.5%, and free cash flow conversion at 92.6%.

Wipro

The IT major reported a flat net profit of Rs 2,969 crore in the December ending quarter, compared to Rs 2,968 crore in Q3 FY20. Its net profit grew 1.3% compared to the Sept-2021 ending quarter.

The company’s revenue from operations rose 29.6% to Rs 20,313.6 crore, up from Rs 15,670 crore on a YoY basis.

Wipro’s earnings per share grew 4.3% YoY at Rs 5.43, while the company’s Board declared an interim dividend of Re 1/share.