The quarter ended December 31, 2021, was the first fully operational quarter without any pandemic-driven lockdown restrictions in the country since March 2020. The Q3FY22 earnings season is off to a great start, with IT giants along with several mid-cap and small-cap companies reporting strong set of numbers. The senior management of most companies are optimistic with respect to their future demand outlook for the upcoming quarters, as they feel that the worst could be in the rear-view mirror. However, a slew of companies are yet to announce their results and with the Union Budget for 2022-23 once again upon us, the upcoming weeks will be action-packed for investors.
IT Companies' Performance (Q3FY22)
India's largest IT services company, Tata Consultancy Services (TCS), witnessed strong demand across business segments, which propelled third-quarter revenue growth to its highest in five years. The IT behemoth posted consolidated net profit of ₹39,769 crore for Q3FY22, up 12 per cent from ₹8,701 crore reported a year ago. During the quarter, TCS signed deals worth USD 7.6 billion, with a book-to-bill ratio of 1.2 times. According to company management, the deal intake remained well-balanced across deal sizes during the quarter and they are confident of delivering double-digit revenue growth in FY22.
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