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Infosys, HCL Tech and Cyient to announce Q3 results; BCL Industries board meet today

Infosys, HCL Tech and Cyient to announce Q3 results; BCL Industries board meet today

Infosys is expected to beat 11 per cent profit growth reported by TCS for the December quarter. IT is seen reporting sales growth in line with TCS' 19 per cent revenue growth

Cyient is expected to report a 11.7 per cent sequential growth in CC revenues, said Motilal Oswal. Organic growth should remain strong at 3.1 per cent, the brokerage said while expecting a 60 bps improvement in sequential margin Cyient is expected to report a 11.7 per cent sequential growth in CC revenues, said Motilal Oswal. Organic growth should remain strong at 3.1 per cent, the brokerage said while expecting a 60 bps improvement in sequential margin

Infosys, HCL Technologies (HCL Tech), Cyient, Den Networks and GTPL Hathway are among a dozen companies that will report their quarterly results today. The board of BCL Industries will meet today to consider increase of authorised capital. The boards of Enbee Trade & Finance and Indian Infotech & Software will consider rights issues today.

Among quarterly results, Infosys December quarter numbers will be disclosed at 3.45 pm.

Infosys is expected to beat 11 per cent profit growth reported by TCS for the December quarter. IT is seen reporting sales growth in line with TCS' 19 per cent revenue growth. It may, however, lag TCS in terms of operating profit margin, brokerage forecasts suggest.

Elara Securities sees Infosys profit jumping 12.6 per cent YoY to Rs 6,553 crore while Motilal Oswal Securities sees profit for Infosys climbing 11.2 per cent YoY to Rs 6,500 crore.

Investec sees revenues for Infosys surging 20.2 per cent YoY to Rs 38,291 crore. In constant currency terms, revenue for Infosys is seen rising 1.2 per cent sequentially while dollar revenue are seen advancing 1 per cent, said Nuvama Institutional Equities.

In case of HCL Tech, Sharekhan expects HCL Tech to report 11.1 per cent YoY rise in net profit at Rs 3,825 crore compared with Rs 3,442 crore in the corresponding quarter last year. It sees sales for the IT major rising 17.4 per cent YoY to Rs 26,214 crore compared with Rs 22,331 crore in the same quarter last year. Operating profit margin is seen at 22.7 per cent against 24.2 per cent in the year-ago quarter, down 149 basis points. Margin is seen improving 53 bps sequentially, as tailwinds of rupee depreciation and lower subcontracting expenses get partially offset by lower utilisation due to higher furloughs.

In the case of Cyient, Motilal Oswal is expecting the It firm to report a 11.7 per cent sequential growth in CC revenues. Organic growth should remain strong at 3.1 per cent, the brokerage said while expecting a 60 bps improvement in sequential margin. It expects a strong rebound in DLM business while  Aerospace vertical should see strong revival, Motilal said adding that the commentary on margins will be the key monitorable.       

This brokerage sees adjusted profit rising 12.5 per cent YoY (21.6 per cent QoQ) to Rs 148.10 crore on a 35 per cent YoY rise in sales at Rs 1,597.40 crore. Dollar revenue is seen rising 11.2 per cent QoQ to $194 million.

The board of BCL Industries will meet today to consider and approve the augmentation of financial resources of the company via funds raising.

Meanwhile, the board of Indian Infotech & Software will meet today to approve the number of shares to be offer and allot under right issue. It will also approve the Draft letter of offer for right issue and any other related matters with respect to the right issue.

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Published on: Jan 12, 2023, 8:11 AM IST
Posted by: Priya Raghuvanshi, Jan 12, 2023, 8:09 AM IST