Overview
- Wipro posted revenue of Rs 23,555.8 crore, up 5.5% year-on-year, with net profit at Rs 3,119 crore after a Rs 302.8 crore labour-code provision; it guided for 0–2% Q4 constant-currency growth and declared an interim dividend of Rs 6 per share.
- Tech Mahindra reported revenue of Rs 14,393 crore, up 8.3% year-on-year, and net profit of Rs 1,122 crore, reflecting a Rs 272 crore one-time labour-code charge; new deal wins reached $1.096 billion and EBIT margin improved to 13.1%.
- Reliance Industries’ consolidated net profit was Rs 18,645 crore, nearly flat year-on-year, as revenue rose 10.5% to Rs 2,69,496 crore, with strength in Jio and digital businesses offsetting softer retail performance.
- L&T Technology Services delivered net profit of Rs 3,026 million on revenue of Rs 29,235 million, recording a Rs 335 million exceptional expense tied to the labour-code transition while maintaining steady margins.
- The new Labour Codes drove one-time charges across large IT firms this quarter, with earlier disclosures from TCS (Rs 2,128 crore), Infosys (Rs 1,289 crore) and HCLTech (USD 82 million) also reducing reported profits.