Infosys announced an 11.8 percent year-on-year (YoY) increase in its consolidated net profit for the October-December quarter at Rs 5,809 crore on Wednesday. On a quarter-on-quarter (QoQ) basis, net profit was 7.1% higher than the previous September quarter's Rs 5,421 crore. During the quarter under review, the company's revenue increased by 22.9 percent year-on-year to Rs 31,867 crore. On a quarter-over-quarter basis, it was up 7.7%. During the third quarter of 2021, the operating margin fell to 23.5 percent, down from 25.4 percent in the previous quarter and 23.6 percent in the previous July-September period. The company increased its sales projection for FY22 from 19.5 to 20%. With digital transformation quickly spreading across verticals and countries, Infosys said its growth remained broad-based and transaction momentum was strong. The quarter saw a surge in large deal wins, with a total contract value (TCV) of $2.53 billion. "Our great performance and market share gains are evidence of our clients' complete trust in us to assist them with their digital transformation. This is the result of four years of consistent strategic focus on areas of importance to our clients in digital and cloud, ongoing skilling of our personnel, and deep trust relationships with our clients. This is reflected in an increase in our revenue projection for FY22 from 19.5 to 20% "Salil Parekh, the MD and CEO of Infosys, stated. Large organizations are succeeding on their digital transitions, he predicts, and the solid technology spending will continue. Despite cost increases, mostly due to supply-side problems, Infosys was able to generate another quarter of excellent margins, thanks to increased cost optimization, continuing operating leverage, and a steady pricing environment, according to the company's CFO Nilanjan Roy. The overall number of employees at Infosys was 2, 92,067 on December 31, 2021, up from 2, 79,617 on September 30, 2021, with 25.5 percent voluntary attrition compared to 20.1 percent in the September quarter. "We continue to place a premium on talent acquisition and development, and we've raised our worldwide graduate hiring programme to over 55,000 for FY22 to support our expansion plans," Roy said.
Wipro, a leading IT services company, posted a flat consolidated net profit of Rs 2,969 crore (attributable to shareholders) for the quarter ended December 31, 2021 on Wednesday (Q3FY22). In the previous fiscal year, the company had a net profit of Rs 2,968 crore. Its net profit increased by 1.3 percent on a sequential basis, according to the company. Its income from operations increased by 29.6% to Rs 20,313.6 crore in the quarter ending December 2020, up from Rs 15,670 crore in the previous quarter. Wipro has announced an interim dividend of Rs 1/- (USD 0.01) per equity share and ADR (50 percent of an equity share with a nominal value of Rs 2/-), according to a regulatory filing. Wipro forecasts revenue from its IT Services segment to be in the range of $2,692 million to $2,745 million for the quarter ending March 31, 2022. This amounts to a growth rate of 2.0 percent to 4.0 percent every year. The IT operating margin for the corporation was 17.6 percent, down from 21.7 percent a year before. In the last 12 months, it has recruited seven new customers with annual revenues of more than $100 million, according to the company.
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