Overview
- Across the sector, reported earnings reflected one-time or provisional expenses for India’s new labour codes even as revenue trends were modestly positive.
- Wipro’s revenue rose 5.5% year on year to ₹23,556 crore, net profit fell ~7% to ₹3,119 crore after a ₹300 crore labour-code impact, the board declared a ₹6/share interim dividend, and Q4 IT services guidance points to 0–2% sequential growth with $3.34 billion in total bookings.
- Tech Mahindra posted revenue of ₹14,393 crore (up 8.3% YoY) and net profit of ₹1,122 crore (up ~14% YoY) after a ₹272 crore labour-code charge, and reported $1.1 billion in new deal wins with EBIT margin at 13.1%.
- L&T Technology Services reported revenue of ₹2,923.5 crore (up 10.2% YoY), net profit of ₹329.1 crore (up 2.1% YoY) and EBIT margin at 14.6%, and disclosed multiple large deals including a $70 million OEM contract, alongside a roughly ₹35 crore labour-code expense.
- Tata Technologies’ profit fell 96% to ₹6.64 crore due to exceptional items tied to the new labour codes (₹114 crore gratuity and ₹25.9 crore compensated absences), while revenue rose to ₹1,365.7 crore and management projected over 10% sequential revenue growth in Q4.