The majority of these companies released their earnings after market hours, hoping that it will mitigate the effect of their Q4 results on the output of their stocks. For nearly two decades, Indian tech firms have been the most favoured partners for global businesses. These are some of the best Software companies based on their job experience, customer feedback and ratings, employee strength, and presence in the tech industry. TCS, Infosys, and Wipro, three global technology companies, have released their financial results for the first quarter of the fiscal year 2021 (Q1FY21). For these firms, margins, big deals, and market patterns appeared to be optimistic during Covid-19.
Here is curated Q4 results of some of the best Indian IT companies:
TCS Q4 Results
TCS stands for Tata Consultancy Services. TCS was established in 1968, with headquarters in Mumbai, and now has 149 offices in 46 countries. TCS' net profit increased 15% year over year to Rs 9,246 crore in the January-March period. TCS' board of directors has also approved a Rs 15 per share final dividend. Interim dividends of Rs 5 per share, Rs 12 per share, and Rs 6 per share were paid by the company. TCS has declared a total dividend of Rs 38 per share for FY21. TCS announced that it would employ 40,000 freshers in FY 22, bringing its total headcount to over 5 lakh. Attrition of TCS was at 7.2% for the fourth quarter.
Infosys Q4 Results
Infosys headquarters are in Bangalore, and it is one of the most sought-after companies in terms of jobs. For the quarter ended March 2021, the IT services business announced a 2.3% sequential decline in consolidated profit at Rs 5,076 crore. The company's board of directors has approved a Rs 9,200 crore open market buyback of equity shares at a price not exceeding Rs 1,750 per share, subject to shareholder approval. For the fiscal year 2021, the board also proposed a final dividend of Rs 15 per equity share. Infosys said that they will hire 26,000 freshers this fiscal. Infosys attrition rate stood at 15%.
Wipro Q4 Results
Wipro is a Bengaluru-based Indian IT international cooperation that was established in 1945. Wipro's professional next-generation innovations now represent clients on six continents. Wipro announced on April 15 that its consolidated profit for the quarter ended March 2020 increased by 0.1% sequentially to Rs 2,972.3 crore. For the year, the company's IT services division brought in Rs 16,334 crore in revenue. Wipro did not reveal exact figures of hiring, Chief Human Resources Officer, Saurabh Govil said that the company would recruit more freshers in FY22 compared to the previous year. In FY21, the company hired almost 9,000 new employees. The attrition rate of the company was at 12%.
MindTree Q4 Results
For the quarter ended March 2021, Mindtree, a midcap IT services firm, recorded a 2.8% sequential decline in consolidated profit at Rs 317.3 crore. Consolidated revenue increased by 4.2% from the previous quarter to Rs 2,109.3 crore, with dollar revenue up 5.2% to $288.2 million. At 12.1% at the end of the March quarter of 2021, the attrition rate had decreased from 12.5%in December 2020. For the fiscal year ending March 2021, Mindtree proposed a final dividend of 175% (Rs 17.50 per share).