Overview
- Wipro reported revenue of Rs 23,556 crore, up 5.5% year-on-year, with net profit down 7% to Rs 3,119 crore after a Rs 302.8 crore provision tied to India’s new labour codes.
- Wipro declared an interim dividend of Rs 6 per share with a January 27 record date and guided March-quarter IT services revenue to grow 0–2% sequentially in constant currency to $2.64–$2.69 billion.
- Tech Mahindra posted revenue of Rs 14,393 crore, up 8.3% year-on-year, and net profit of Rs 1,122 crore, up 14% year-on-year, reflecting a Rs 272 crore one-time employee-benefit charge related to the labour codes.
- Tech Mahindra reported $1.1 billion in net new deal bookings and a 13.1% operating margin, with its shares closing about 5% higher ahead of the results.
- Across the sector, TCS, Infosys and HCLTech earlier beat revenue forecasts but recorded one-off labour-code charges (TCS Rs 2,128 crore, Infosys Rs 1,289 crore, HCLTech about $82 million); Infosys shares jumped over 5% after the guidance hike and the company said it is running 4,600 AI projects.