Tata Consultancy Services (TCS) announced its results yesterday, many other IT firms like Wipro, Infosys and Mindtree will be announcing their results in the coming few days. So, it will interesting to see how these IT companies fair and the impact of the COVID-19 pandemic on them. Thus, keep a close watch on these stocks.
Tata Consultancy Services: On Monday, TCS declared its results for the quarter. The company reported a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore for the March 2021 quarter. This is against a net profit of Rs 8,049 crore in the year-ago period, TCS said in a regulatory filing. 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. Yesterday, TCS share was trading at a low of Rs 3,217.75 per piece.
Wipro: The results of this IT firm will be announced on April 14. But in the last quarter, the IT major had reported 20.37 per cent rise in consolidated net profit to Rs 2,968 crore. It reported a 3.68 per cent increase in revenue to Rs 15,670 crore in the third quarter of FY21 compared to the same quarter last year. Thus there are expectation this quarter as well. Meanwhile, Wipro share was down to Rs 429.80 per share.
Infosys: After it was announced that the board of directors will consider a proposal for buyback of fully paid-up equity shares of the company on April 14, 2021, this stock gained traction. Meanwhile, the results of the company are expected on April 14, 2021. There are reports suggesting growth will be more or less flat for the company in March quarter. The company shares were down by 1 per cent yesterday and traded at Rs 1,415.30 per share.
Mindtree: IT firm’s results are expected on April 16, 2021. It was reported a 65.7 per cent rise in consolidated net profit to Rs 326.5 crore for the December 2020 quarter. The company had posted a net profit of Rs 197 crore in the corresponding period last year, Mindtree said in a regulatory filing. So, such growth is expected this quarter as well. Mindtree was trading at around - 3 per cent. The lowest for this stock (yesterday) was Rs 2,101.05 per piece.