The top three IT companies – TCS, WIPR, & HCL Tech – have announced their earnings for the last three months of the year. TCS had a huge order inflow, with $10 billion coming in, which was higher than expected. Wipra had a steady stream of deals, with 10 big ones worth $1 billion, but HCL Tech had fewer new deals compared to the last quarter. HCL Tech said it expects to grow its revenue by 6% to 8% in the fourth quarter of FY24, and its EBIT margin is expected to be around 18% to 19%. Wipro had a quiet outlook for the September quarter, saying it expects a 2% to 1% growth in its IT Services segment. TCS, however, didn’t give any specific guidance. The IT firms are worried about demand recovering in the back-half of FY24, as they face challenges in turning deal-winnings into revenue growth.
Top IT Firms TCS, Wipro, and HCL Tech: Performance, Stock Price Targets, and Growth Guidance
By Daily News
