While majors in the IT sector like Tata Consultancy Services (TCS) and HCL Tech already having released their fiscal third quarter earnings, another giant in the industry, Infosys is all set to release its Q3 numbers on Thursday (January 16). Brokerage firms and analysts said that the company will post a muted revenue growth on a sequential basis, while the net profit is seen rising in the low single digit. However, per most of the brokerage firm reports, Infosys is anticipated to announce an upward revision in the company’s revenue guidance. The IT major, in Q2, had revised its revenue growth guidance for the seventh time in eight quarters to 3.75-4.5 per cent in constant currency (cc) terms.
Earlier in a regulatory filing on January 08, Infosys had said, “Infosys, a global leader in next-generation digital services and consulting, will announce results for the third quarter ended December 31, 2024 on Thursday, January 16, 2025 around 3:45 p.m. Indian Standard Time (IST).” It also announced that the post this, the leadership team will also hold a press conference at 4:30 pm on the same day. “The participating executives will address questions from the media during this interaction, which will be streamed live on the Investor Relations section of Infosys website,” it added.
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According to a Monecontrol poll, Infosys is estimated to post a 0.5 per cent sequential uptick in revenue to Rs 41,206 crore and the Q3 profit is projected at Rs 6,734 crore, up 3.5 per cent on-quarter.
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With the third quarter of the financial year being a seasonally weak quarter for the IT industry due to higher furloughs on account of Christmas and New Year holidays, Infosys is expected to post an uptick in revenue on QoQ basis
An analysis report by JM Financial stated “We expect 90 bps QoQ cross-currency headwind.
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