Overview
- Wipro posted revenue of Rs 23,556 crore and net profit of Rs 3,119 crore, reflecting a Rs 302.8 crore Labour Code impact and restructuring costs, declared a Rs 6 interim dividend, and guided for 0–2% sequential growth in Q4 IT services revenue.
- Tech Mahindra’s net profit rose 14.1% year on year to Rs 1,122 crore on revenue of Rs 14,393 crore, reported $1.096 billion in new deals, and booked an exceptional Labour Code charge of about Rs 272 crore as EBIT margin reached 13.1%.
- Reliance Industries reported nearly flat net profit at Rs 18,645 crore on 10.5% revenue growth to Rs 2.69 lakh crore, with Jio reporting higher ARPU at Rs 213.7 and a larger subscriber base as retail performance softened due to GST rate rationalisation and a consumer products demerger.
- HDFC Bank’s consolidated profit rose 12.17% to Rs 19,807 crore despite an Rs 800 crore Labour Code expense, while Federal Bank’s profit increased to Rs 1,094 crore and Central Bank of India’s to Rs 1,260 crore alongside improved asset quality.
- Multiple IT firms disclosed Q3 Labour Code one‑offs, including Wipro (Rs 302.8 crore), Tech Mahindra (~Rs 272 crore), TCS (Rs 2,128 crore) and Infosys (Rs 1,289 crore), underscoring a sector‑wide, policy‑driven margin effect.