TCS To Start Q1Fy23 Earnings Season On July 8

The first quarter for the Fy23 has concluded as we usher in the new quarter starting July. Further as for the India Inc. performance in June ended quarter, Trendlyne data suggests that 1947 companies have reported positive profit growth, while 1543 have registered negative profit growth. Likewise, neutral growth in profits have been reported by as many as 93 entities.

So, with the conclusion of the quarter, the earnings season for q1Fy23 will be started by the IT major TCS as is the historical trend on July 8. Also, ahead of its earnings, the company has also announced record date for interim dividend for Fy2022-23 as July 16, 2022.

As for the outlook for IT companies' earnings for June quarter, Kotak Securities is of the view that margins will be under pressures as IT companies confront high attrition rate and resultantly higher retention costs and travel and discretionary expenses. Further, the brokerage house mentions that IT giants including TCS and Infosys shall perform well but other IT company face the risk of degrowth.

Further the report states that the management commentary this tine shall be highly crucial given the fact that despite steep correction in IT stocks, the recessionary environment is not fully captured.'

In the previous quarter ended March 2022, consolidated net sales at the firm registered 15.76% growth YoY to Rs. 50,591 crore. Likewise, net profit also logged an over 7% increase over the same period last year at Rs. 9926 crore. The company in fact ended the Fy22 with highest ever incremental revenue addition and all time high order book of Rs. $34.6 billion. Free cash flow at the company stood at $5.257 billion.

Earnings calendar of IT companies

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