Infosys, the Bengaluru, India-based global IT services giant, reported revenue rose 21.5% in constant currency in its fiscal third quarter ended 31 December. Growth was broad-based in the seasonally weak quarter amid digital transformation happening across industry verticals and regions. It also reported large-deal wins accelerated in the quarter.

“We expect the healthy technology spend to continue with large enterprises progressing on their digital transformations,” Infosys CEO and Managing Director Salil Parekh said.

CFO Nilanjan Roy reported the company plans to hire more than 55,000 new graduates globally in this fiscal year.

Infosys updates its forecast revenue growth for the full fiscal year to be between 19.5% and 20.0%.

Shares in Infosys closed at INR 1,896.80 (USD 25.66), up 1.03% on the day and 0.90% below its 52-week high of INR 1,914.05 (USD 25.90), set on 3 January 2022. The company has a market cap of INR 7.87 trillion (USD 106.48 billion). 

Wipro results

IT services giant Wipro Ltd. (NYSE: WIT) yesterday reported revenue rose 29.6% year over year in its fiscal third quarter ended 31 December. The company reported that it had 231,671 employees in its IT service segment, a year-over-year increase of 41,363 employees on a net basis.

“Wipro has delivered a fifth consecutive quarter of strong performance, both on revenues, and margins,” CEO and Managing Director Thierry Delaporte said. “Order bookings have been strong too, and we have added seven new customers in the more than $100 million revenue league, in the last 12 months.”

Wipro noted revenue in its IT services segment rose 28.5% in constant currency to $2.64 billion.

Americas 1 revenue rose 25.8% year over year to INR 56.64 billion (USD 761 million), and Americas 2 revenue rose 36.6% to INR 61.08 billion rupees (USD 821 million).

Americas 1 includes revenue from US clients in the following industries: healthcare and medical devices, consumer goods, life sciences, retail, transportation and services, communications, media, and information services. It also includes Wipro’s entire Latin America business.

Americas 2 includes revenue from US clients in the following industries: banking, financial services and insurance, manufacturing, high tech, energy, and utilities. It also includes Wipro’s entire Canadian business.

Wipro expects IT services revenue to increase 2.0% to 4.0% in its fiscal fourth quarter from the third quarter.

Shares in Wipro Ltd closed at INR 649.75 (USD 8.79), down 6.02% on the day and 12.18% below its 52-week high of INR 739.85 (USD 10.01), set on 14 October 2021. The company has a market cap of INR 3.78 trillion (USD 51.14 billion).