The Indian economy is presently in a sweet spot with the growth engine going full throttle. There is a very clear visibility of healthy potential demand for the future, which has provided confidence to large corporates to aggressively ramp up their capacities. With improving economic activities, moderation in inflation, softening commodity prices, easing supply chain issues and recovery in demand witnessed over the last few months, analysts and investors by and large expect the December quarter financial performance to be buoyant, which is expected to drive stock-specific action in the markets. Let us delve deeper to analyse the Q3FY23 earnings of companies that have declared their results.
IT Companies’ Performance
India’s largest IT services company, Tata Consultancy Services (TCS) reported a profit of ₹10,883 crore in Q3FY23 as against ₹9,806 crore in Q3FY22, a 10.98 per cent jump year-on-year (YoY). On a sequential basis, the company’s profit jumped by 3.99 per cent. TCS posted a 19 per cent jump in its revenue at ₹58,229 crore. On a sequential basis, the revenue was up 5.2 per cent. The total income of the company stood at ₹50,833 crore, rising by 18.02 per cent YoY. The company secured deals worth USD 7.5 billion in the December quarter, which was slightly lower than what it was in the preceding two quarters. Attrition rate for the quarter ending December 31, 2022, inched lower to 21.3 per cent.
Esta historia es de la edición February 13, 2023 de Dalal Street Investment Journal.
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Esta historia es de la edición February 13, 2023 de Dalal Street Investment Journal.
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