India’s earnings season is all set to start next week, with India’s largest IT services company TCS being the first to declare its Q4FY23 financial results on April 12. Apart from financial results, the TCS board is also expected to consider a final dividend for 2022-23 at its 28th annual general meeting.
Another IT major Infosys will announce its results for the fourth quarter and year ended March 31, 2023, on Thursday, April 13, 2023 around 3.45 pm Indian Standard Time (IST).
After the announcement of Q4 results, TCS’ leadership team will address the media in a press conference at 17:30 hrs IST (20:00 hrs SST/HKT, 12:00 hrs UTC, 08:00 hrs US ET). The interaction will be streamed live on the company’s website and on its YouTube channel, according to a regulatory filing.
“Tata Consultancy Services Limited will announce its results for the fourth quarter of FY 2023, ended March 31, on Wednesday, April 12, 2023, after-market trading hours,” it said.
In the previous quarter of October-December 2022, Tata Consultancy Services’ (TCS) consolidated net profit stood at Rs 10,846 crore, a jump of 11 per cent on a year-on-year basis. During October-December 2022, TCS’ revenue rose 19.1 per cent year-on-year to Rs 58,229 crore.
On a constant currency basis, TCS revenue jumped 13.5 per cent during the December 2022 quarter. TCS’ board had also declared a third interim dividend of Rs 8 and a special dividend of Rs 67 per equity share of Rs 1 each of the company.
Shares of Tata Consultancy Services (TCS) on Wednesday was trading 1.62 per cent higher or Rs 51.75 at Rs 3,251 apiece at 12:07 pm.
In the third quarter of the current financial year (Q3FY23), Infosys recorded a 20.2 per cent growth in revenue at Rs 38,318 crore as compared with Rs 31,867 crore year-on-year (YoY). The net profit of the company rose 13.4 per cent to Rs 6,586 crore during Q3FY23.
The IT major said its deal wins were strongest in eight quarters, as it revised upward its FY23 revenue guidance to 16-16.5 per cent in constant currency terms (CC). Infosys, however, retained its Ebit margin guidance at 21-22 per cent for the financial year.
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