Den Networks on Friday reported 50.56 per cent rise in consolidated net profit at Rs 33.89 crore for the fourth quarter ended March 31, 2021.
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For the year, Mindtree delivered revenues of $1,076.5 million and margin expansion of 680 bps, while increasing their order book by 12.3 per cent
Q4 earnings: Despite a moderated YoY growth in loan book, HDFC Bank continues to outperform industry, resulting in market share gain
IT services performance, which is tracked by the street widely, reported revenue of Rs 16,334 crore, growing 3.9 per cent sequentially
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Q4 IT services revenue was $2.15 bn, a rise of 3.9% sequentially
Ahead of the results, the shares of the firm ended 2.95 per cent higher at Rs 431 on the BSE.
Despite the miss on sequential revenue growth, analysts remain bullish on Infosys as they believe underlying metrics should continue to aid the company's growth leadership in FY22
Motilal Oswal Securities expects Infosys to be a key beneficiary of a recovery in IT spends in FY22E
FY22 revenue growth forecast at 12-14%
Demand remained strong in East, North, and Central India, while the West showed signs of revival
Recovery in the African and Latin American markets should help exporters post better growth than the domestic market
Exports of short-cycle products are expected to improve, aiding revenue mix
On the profitability front, the brokerage pegs operating profit growth at 15 per cent YoY with 12 per cent YoY for private and 19 per cent for PSBs
Exports jumped 126 per cent year-on-year in March to 1.29 MT, compared with a monthly average of 0.65-0.75 MT in recent times
The company board also recommended a final dividend of Rs 15 per share for FY21
Wipro shares, so far for the year, have risen 8.5 per cent as against a gain of 3.7 per cent in the NSE Nifty index during the same duration
The IT services major on Monday posted Q4 numbers largely in line with or above analysts' estimates
The biggest takeaway from the Q4 numbers was the order book at $9.2 billion, the highest ever reported by TCS in a quarter since the company started reporting this metric