TCS, Infosys Q3 Results: Here's how both stocks are likely to open today
Infosys Q3 results: Revenue guidance to dip in profit — 6 key highlights from IT major's earnings The nervousness in the market was visible as the Nifty IT Index closed 0.28% lower on Thursday. TCS share price ended at ₹3,736.20 per share, up by 0.61% before the announcement of Q3 results, whereas, Infosys shares ended 1.62% lower at ₹1,495.00 apiece on the BSE. TCS posted a 2% year-on-year (YoY) growth in consolidated net profit, reaching ₹11,058 crore, while revenue saw a 4% increase, totaling ₹60,583 crore.
Analysts' had projected revenue at ₹60,119 crore and a profit of ₹11,446 crore. Also Read: TCS Q3 result: Tepid growth in revenue, profit to dividend announcement - here are 5 key highlights “TCS' Q3 earnings and margins beat street estimates. We were expecting a flattish revenue growth in rupee terms while the company reported earnings that came above expectations.
The best thing is despite a seasonally weak quarter with macro-economic headwinds, TCS performed very well on most earnings parameters," said Prashanth Tapse, Senior VP (Research), Mehta Equities. Infosys reported a 1.7% sequential fall in its consolidated net profit for the fiscal third quarter ended December 2023 (Q3FY24) at ₹6,106 crore. Sequentially, the consolidated revenue was down 0.4% to ₹38,821 crore.
Although TCS exceeded expectations across various metrics, Infosys once again adjusted its guidance, and the number of deal wins was lower compared to the previous quarter. However, according to experts, the overall results were not as dire as initially feared. Also Read: TCS vs Infosys: 5 most important comparisons you should know Investors are keen to watch how both the stocks are likely to open after Q3 results.
Read more on livemint.com
