IT services giants Wipro Ltd. (NYSE: WIT) and Tata Consultancy Services Ltd. announced second-quarter earnings. In addition, Infosys Ltd. (NYSE: INFY) reported its president stepped down.

Wipro Ltd. 

Wipro Ltd. yesterday reported revenue rose 14.6% year over year in its fiscal second quarter ended 30 September 2022.

“Our ongoing investments in high-growth strategic areas have allowed us to steadily increase our win rate and enhance the quality of our pipeline,” CEO and Managing Director Thierry Delaporte said. “As a result of these efforts and our sharp focus on operational excellence, we are now seeing an improvement in our margins.”

Wipro expects IT services revenue to rise between 0.5% and 2.0% in its fiscal third quarter ending 31 December 2022. IT services revenue had risen 12.9% in constant currency in the second quarter.

Shares in Wipro closed yesterday at INR 407.95 (USD 4.96), up 0.87% on the day. The company has a market cap of INR 2.07 trillion (USD 25.15 billion).

Tata Consultancy Services Ltd.

Tata Consultancy Services Ltd. (TCS) reported revenue rose 15.4% in constant currency in its fiscal second quarter ended 30 September 2022.

“Demand for our services continues to be very strong,” CEO and Managing Director Rajesh Gopinathan said. “We registered strong, profitable growth across all our industry verticals and in all our major markets. Our order book is holding up well with a healthy mix of growth and transformation initiatives, cloud migration and outsourcing engagements.”

TCS added a net 9,840 people to its workforce during the quarter for a total of 616,171.

Shares in TCS closed yesterday at INR 3,100.75 (USD 37.68), up 1.01% on the day. The company has market cap of INR 11.35 trillion (USD 137.9 billion).

Infosys Ltd.

In a regulatory filing, Infosys Ltd. announced President Ravi Kumar S. stepped down effective Tuesday.

The Economic Times reported he is moving on to pursue a new endeavour outside of Infosys.

“After 20 wonderful years at Infosys, I want to let you all know that I’m moving on to explore new experiences and broaden my horizons,” Kumar wrote on LinkedIn. “During these 20 years I was blessed to work with wonderful people, great leaders, extraordinary mix of experiences, running a diverse set of roles globally, imbibed a lifelong learning culture and enjoyed the entrepreneurial spirit of this wonderful platform, Infosys and I’m deeply indebted and very grateful to everyone involved in my journey.”