Overview
- Reliance Industries posted consolidated net profit of Rs 18,645 crore with revenue up 10.5% year on year to Rs 269,496 crore, as strength in Jio and oil-to-chemicals offset softer retail performance and capex reached Rs 33,826 crore.
- Wipro’s revenue rose 5.5% year on year to Rs 23,555.8 crore while net profit fell about 7% to Rs 3,119 crore after a Rs 302.8 crore labour-code provision and a Rs 263 crore restructuring cost; the board declared a Rs 6 interim dividend and guided for flat to 2% sequential Q4 growth.
- Tech Mahindra reported Rs 14,393 crore in revenue, up 8.3% year on year, and net profit of Rs 1,122 crore, up 14.1% year on year, with EBIT margin at 13.1%, a Rs 272 crore labour-code expense, and new deal wins of about USD 1.1 billion.
- L&T Technology Services posted Rs 3,026 million profit on Rs 29,235 million revenue with EBIT margin improving to 14.6% and an exceptional Rs 335 million labour-code adjustment recorded in the quarter.
- Sector updates showed multiple IT peers disclosing sizeable labour-code impacts in Q3, prompting the market to separate these one-time charges from operational trends such as margin improvement, deal pipelines, dividends and near-term guidance.