Here is a detailed overview of the performance of the top 10 companies in the Indian IT sector during the first quarter of this fiscal year:
Tata Consultancy Services (TCS):
TCS, India’s largest IT services company, reported revenues of Rs. 59,381 crore, a significant increase from Rs. 52,758 crore YoY.
Net profit for this quarter reached Rs. 11,120 crore, compared to Rs. 9,519 crore YoY.
Operating profit stood at Rs. 14,998 crore, up from Rs. 13,416 crore YoY.
The operating margin remained stable at 25% compared to the previous year’s first quarter.
Earnings per share (EPS) for Q1 reached Rs. 30.26, an improvement from Rs. 25.90 YoY.
The attrition rate decreased to 17.8%.
Infosys:
Infosys, India’s second-largest IT company, achieved sales of Rs. 37,933 crore, an increase from Rs. 34,470 crore YoY.
Net profit for the quarter was Rs. 5,945 crore, up from Rs. 5,362 crore YoY.
Operating profit stood at Rs. 9,064 crore, compared to Rs. 7,864 crore YoY.
The operating margin was 24%, a slight increase from 23% YoY.
EPS for Q1 was Rs. 14.32, compared to Rs. 12.74 YoY.
Attrition declined to 17.3%.
HCL Technologies reported Q1 revenues of Rs. 26,296 crore, up from Rs. 23,464 crore YoY.
Net profit for Q1 was Rs. 3,531 crore, compared to Rs. 3,281 crore YoY.
Operating profit reached Rs. 5,365 crore, up from Rs. 4,975 crore YoY.
The operating margin decreased to 20% from 21% YoY.
EPS was Rs. 13.02, an improvement from Rs. 12.10 YoY.
The attrition rate stood at 19.5%.
Wipro:
Wipro reported Q1 revenues of Rs. 22,831 crore, up from Rs. 21,529 crore YoY.
Net profit was Rs. 2,886 crore, compared to Rs. 2,559 crore YoY.
Operating profits were Rs. 4,196 crore, up from Rs. 3,858 crore YoY.
The operating margin remained stable at 18% compared to the previous year’s first quarter.
EPS was Rs. 5.23, compared to Rs. 4.68 YoY.
The attrition rate was high at 23.3%.
LTI (L&T Infotech):
LTI reported Q1 revenues of Rs. 8,702 crore, an increase from Rs. 7,644 crore YoY.
Net profit for this quarter was Rs. 1,152 crore, compared to Rs. 1,106 crore YoY.
Operating profits reached Rs. 1,636 crore, up from Rs. 1,494 crore YoY.
The operating margin was 19%, down from 20% YoY.
EPS was Rs. 38.92, a decrease from Rs. 63.06 YoY.
The attrition rate was 17.8%.
Tech Mahindra reported Q1 sales of Rs. 13,159 crore, an increase from Rs. 12,708 crore YoY.
Net profit for the quarter was Rs. 704 crore, down from Rs. 1,148 crore YoY.
Operating profits were Rs. 1,338 crore, a decrease from Rs. 1,880 crore YoY.
The operating margin was 10%, down from 15% YoY.
EPS was Rs. 7.10, compared to Rs. 11.64 YoY.
The attrition rate was 13%.
Q1 sales for L&T Technology Services were Rs. 2,301 crore, an increase from Rs. 2,006 crore YoY.
Net profit was Rs. 312 crore, up from Rs. 276 crore YoY.
Operating profits reached Rs. 453 crore, up from Rs. 408 crore.
The operating margin remained stable at 20%.
EPS was Rs. 29.44, compared to Rs. 26.09 YoY.
Tata Elxsi reported Rs. 850 crore in topline, up from Rs. 726 crore YoY.
Net profit was Rs. 189 crore, compared to Rs. 185 crore YoY.
Operating profits reached Rs. 251 crore, up from Rs. 238 crore YoY.
The operating margin was 30%, down from 33% YoY.
EPS was Rs. 30.32, compared to Rs. 29.66 YoY.
Persistent Systems:
Persistent Systems achieved a topline of Rs. 2,321 crore, up from Rs. 1,878 crore YoY.
Net profit was Rs. 229 crore, up from Rs. 212 crore YoY.
Operating profits reached Rs. 374 crore, up from Rs. 333 crore YoY.
The operating margin was 16%, down from 18% YoY.
EPS was Rs. 29.93, compared to Rs. 27.69 YoY.
Oracle Financial Services Software:
Sales for Oracle Financial Services Software were Rs. 1,462 crore, up from Rs. 1,402 crore YoY.
Net profit was Rs. 501 crore, compared to Rs. 492 crore YoY.
Operating profits reached Rs. 621 crore, down from Rs. 647 crore YoY.
The operating margin was 42%, down from 46% YoY.
EPS was Rs. 57.92, compared to Rs. 56.95 YoY.