The Much awaited Quarterly results of the Indian IT Companies are finally out. With the shift in demands and technology change, the Indian IT giants have not performed badly at all.
TCS on one hand saw a profit of nearly 6% Quarter on Quarter rise with a profit of whopping 6000 Cr. Majority of the profits by TCS comes from Europe and North America. TCS was able to give hike in the range of 8-12% to the employees. TCS also plans to acquire more than 120000 people to its pool of associates in nearly 400+ new technologies. In this profit of TCS, digital technologies share is around 52% which is quite a booster for them
Infosys, although not as good as TCS, Infosys reported lower than expected top line growth which was accompanied by better than expected operating margin .After a gap of over four years, Infosys is expecting more than average market growth. Infosys 3.1% quarter on quarter growth for FY2016. Infosys reported profit of 3465 crores in this year’s result. The current headcount of Infosys stands at nearly 194000.
Wipro performance was worst among the 3 giants. The company reported only 0.04% Quarter on Quarter profit at 2235 Cr. Net profit for Wipro fell by 1.63% year over year basis. The company expects its revenues to go in the range of $1901 to $1939 million. Wipro currently has headcount of 172000 employees.
The FY 2016-2017 is crucial for IT companies since the clients are looking for more sophisticated approach. With NASSCOM predicting less job opportunities in coming year in IT, new technologies are set to make many existing roles redundant and companies improve efficiency as clients demand more bang for the buck.