Wipro, Tech Mahindra Q3 Results: Wipro on Friday announced its fiscal third quarter earnings with profit at Rs 3366.70 crore, up 24.66 per cent YoY. It posted revenue from operations at Rs 22,318.80 crore, marginally higher than Rs 22,205.10 crore posted during Q3FY24.
Meanwhile, Tech Mahindra posted profit at Rs 983.2 crore, recording a jump of 92.63 per cent in comparison to Rs 510.4 crore during the same period of previous financial year. It posted revenue from operations for the quarter at Rs 13,285.60 crore.
Today, IT majors like Wipro and Tech Mahindra and other biggies including SBI Life Insurance Company, Ramkrishna Forgings, Sterlite Technologies, Jio Financial Services, Indian Hotels Company, ICICI Lombard General Insurance Company, Aether Industries, Gujarat Hotels, among others, were to release their Q3 numbers for the financial year 2024-25.
During the third quarter, companies are expected to turn in a better performance as compared to the previous quarter even as the current quarter comes against the backdrop of a slowing economy characterised by weak consumer demand and modest increases in investments. According to Kotak Institutional Equities, net profit for the Nifty50 companies is expected to grow at 9 per cent YoY on the back of a 4.3 per cent rise in revenues. For the BSE 30 set of companies, net profits are estimated to go up by 7.2 per cent YoY due to a rise in sales of 5.7 per cent YoY.
During this weekend, companies like Kotak Mahindra Bank, DCM Shriram, Netweb Technologies India, RBL Bank, Can Fin Homes, among a few others, will release their Q3 numbers.
Q3 Results: Wipro, Tech Mahindra, SBI Life, Jio Financial Services, ICICI Lombard Earnings News
Indian Hotels Q3 Results Live Updates: Ankur Dalwani on Q3 performance
Ankur Dalwani, Executive Vice President and Chief Financial Officer, IHCL said, “With continued demand buoyancy in the domestic market IHCL Standalone reported a revenue of INR 1,517 crores, an increase of 15% over the previous year, EBITDA margin 47.8%, an expansion 240 basis points and a 23% growth in PAT at Rs 469 crores. Led by a broad-based business performance, IHCL Consolidated reported EBITDA margin of 39.4% an expansion of 80 bps resulting in a strong gross cash position as on 31st December of Rs 2,823 crores.” He added, “The company in January has acquired 55% shareholding in Rajscape Hotels, the brand holding company of Tree of Life and will form a part of IHCL Consolidated from Q4.”
Puneet Chhatwal, Managing Director & CEO, IHCL, added, “In line with Accelerate 2030, IHCL sets a new growth benchmark with 55 signings and 20 openings till date this fiscal and 85% of these signings are capital light. With a portfolio of 360 hotels and an industry leading pipeline of 123 hotels, IHCL at this pace of growth is well poised to reach 700 hotels by 2030.”
In Q3, IHCL signed 20 hotels which included 3 Taj hotels in destinations like Chail and Ayodhya, The Claridges, New Delhi, SeleQtions hotels in Diu and Mandvi, a Vivanta in Surat, Tree of Life resorts in Udaipur and Naldehra, 6 under the newly reimagined Gateway and 5 Ginger hotels.
IHCL opened 8 new hotels in Q3, taking the total operating hotels to 237 across brands with a Taj in Puri and Cochin International Airport, SeleQtions in Thimpu, Goa and Kumbhalgarh, a Tree of Life resort in Bandhavgarh and 2 Ginger hotels in Diu and Goa.
Indian Hotels Q3 Results Live Updates: Puneet Chhatwal on Q3 performance
Puneet Chhatwal, Managing Director & CEO, IHCL, said, “Q3 marks eleven consecutive quarters of record performance with the hotel segment reporting a strong revenue growth of 16% resulting in EBITDA margin of 40.9%. The revenue performance was driven by 40% increase in New Businesses, not like for like growth and double-digit growth in same store hotels led by 20% growth in the US portfolio. With the consolidation of the air and institutional catering business, Revenue and PAT grew by 29% at Rs 2,592 crore and Rs 582 crore respectively. In Q4 and the subsequent quarters of the next financial year, the sector will continue to witness demand buoyancy on account of large-scale regional events, weddings and sustained transient travel.”
Indian Hotels Q3 Results Live Updates: Profit rises by 28.85% to Rs 582.32 crore
Indian Hotels Co Ltd on Friday reported its fiscal third quarter profit at Rs 582.32 crore, posting a growth of 28.85 per cent in comparison to Rs 451.95 crore during the same period of previous financial year. It posted revenue from operations at Rs 2533.05 crore, up 28.98 per cent as against Rs 1963.84 crore during the third quarter of FY24.
Tech Mahindra Q3 Results Live Updates: Attrition rate rises to 11.2% YoY
• Total headcount at the end of the quarter 150,488; down 3,785 QoQ, up 4,238 YoY
• LTM IT attrition 11.2%
• Days of Sales Outstanding 88 days; down 6 days QoQ, down 3 days YoY
• Cash and Cash Equivalent at the end of the quarter Rs 6,841 crore
Tech Mahindra Q3 Results Live Updates: Key highlights
• Revenue $1,567 million; down 1.3% QoQ, down 0.4% YoY
• Revenue grew by 1.2% QoQ and by 1.3% YoY in constant currency terms
• EBITDA $213 million; up 2.0% QoQ, up 54.7% YoY
• EBITDA Margin 13.6%, up 40 bps QoQ, up 480 bps YoY
• Profit after tax (PAT) $116 million; Operational PAT up 9.9% QoQ; up 88.5% YoY
• PAT Margin 7.4%, Operational PAT Margin up 80 bps QoQ, up 350 bps YoY
• Free cash flow $199 mn
• New deal wins TCV $745 mn
Tech Mahindra Q3 Results Live Updates: Deal TCV
New deal wins TCV stood at $745 million.
Tech Mahindra Q3 Results Live Updates: Rohit Anand on Q3 performance
Rohit Anand, CFO, Tech Mahindra, said, “We delivered growth in EBIT margin and operating PAT, both on a sequential and year-on-year basis, resulting from our targeted actions under Project Fortius, along with steady increase in new deal wins, across prioritised verticals and markets. Our continued focus on optimising working capital management has resulted in generation of robust free cashflow.”
Tech Mahindra Q3 Results Live Updates: Mohit Joshi on Q3 performance
Mohit Joshi, CEO, Tech Mahindra, said, “We see an improved rate of deal wins in our key verticals and priortised markets. This coupled with consistent expansion in operating margins, despite cross-currency headwinds during the quarter, reaffirms that we are on track to achieve our long-term goals.”
IT giant Tech Mahindra on Friday released its fiscal third quarter results with profit at Rs 983.2 crore, recording a jump of 92.63 per cent in comparison to Rs 510.4 crore during the same period of previous financial year. It posted revenue from operations for the quarter at Rs 13,285.60 crore, up 1.41 per cent as against Rs 13,101.30 crore during the third quarter of FY24. The company EBIT stood at Rs 1350 crore.
Wipro Q3 Results Live Updates: Aparna Iyer on Q3 performance
Aparna Iyer, Chief Financial Officer, said, “We expanded margins for a fourth consecutive quarter, enabling us to achieve our previously stated target margin of 17.5%. Our EPS grew 24.4% YoY and operating cash flow was at 146.5% of net income. We are pleased to share that the board has approved our revised capital allocation policy that increases the committed payout percentage to 70% or above in a block of 3 years. In addition, board has also declared an interim dividend of INR 6 per share.”
Wipro Q3 Results Live Updates: Srini Pallia on Q3 results
Srini Pallia, CEO and Managing Director, said, “In a seasonally weak quarter, our strong in quarter execution helped us deliver above the top end of our revenue guidance. We also achieved our highest margins in the past three years while continuing to invest in our people. We closed 17 large deals with a total value of $1B. We are advancing steadily and investing decisively to lead our clients in an AI-driven future.”
Wipro Q3 Results Live Updates: Q4 revenue guidance
Wipro said that it expects revenue from its IT Services business segment to be in the range of $2,602 million to $2,655 million for Q4FY25. This, it added, translates to sequential guidance of (-)1.0 % to 1.0 % in constant currency terms.
Wipro Q3 Results Live Updates: Interim dividend declared
Wipro on Friday declared an interim dividend of Rs 6 per equity share.. In a regulatory filing, it said, “The Board of Directors (Board) of Wipro Limited (Company), have at their meeting held over January 16-17, 2025, considered and approved payment of interim dividend of Rs 6 per equity share of par value Rs 2 each to the Members of the Company as on January 28, 2025, being the Record Date. The payment of Interim Dividend will be made on or before February 15, 2025.”
Wipro on Friday announced its fiscal third quarter earnings with profit at Rs 3366.70 crore, posting a growth of 24.66 per cent in comparison to Rs 2700.60 crore recorded during the corresponding quarter of FY24. It posted revenue from operations at Rs 22,318.80 crore, marginally higher than Rs 22205.10 crore posted during the same period of previous financial year.
IT products performance
IT Products segment revenue for the quarter was Rs 0.7 billion ($8.7 million).
IT Products segment results for the quarter were Rs 0.03 billion ($0.3 million).
Wipro Q3 Results Live Updates: Stock closes 2.2% lower
Ceat Q3 Results Live Updates: Motilal Oswal on Q3 performance
An analysis report by Motilal Oswal Financial Services stated, “Ceat’s Q3FY25 performance was operationally in line, while it reported a lower PAT at Rs 0.97b, due to high interest costs and tax. Management expects the international mix to rise to 26% from ~19% currently, driven by the Camso acquisition, focus on OHT, and improved distribution, especially in the US. This is not just expected to drive healthy growth but should also bode well for overall profitability.
For the coming quarters, in the replacement segment, Ceat expects high single-digit growth in the truck bus category, double-digit growth in 2Ws, and low single-digit growth in the farm and passenger categories. However, in the OEM segment, 2W OEM is likely to grow in the high single digits, PV in the low single digits, and CV OEMs are likely to remain weak in the near term.”
SBI Life Q3 Results Live Updates: Updates for nine months of FY25
Cost Efficiency
Total Cost ratio for 9MFY25 is 10.2% vis-à-vis 9.9% for 9MFY24
Commission ratio for 9MFY25 is 4.9% vis-à-vis 4.8% for 9MFY24
Operating Expense ratio for 9MFY25 is 5.3% vis-à-vis 5.1% in 9MFY24
Profitability
Profit after Tax (PAT) grew by 48% to Rs 16.0 billion for 9MFY25
VoNB increased by 6% to Rs 42.9 billion for 9MFY25
VoNB margin stands at 26.9% in 9MFY25
Assets under Management
AuM grew by 19% from Rs 3,714.1 billion as on December 31, 2023 to Rs 4,416.8 billion as on December 31, 2024 with debt-equity mix of 61:39. 94% of the debt investments are in AAA and Sovereign instruments.
SBI Life Q3 Results Live Updates: Profit jumps by 71.20% to Rs 550.82 crore
SBI Life Insurance Company Ltd on Friday announced its Q3 results for FY25 with profit at Rs 550.82 crore, posting a growth of 71.20 per cent in comparison to Rs 321.75 crore recorded during the third quarter of FY24. The total income for the quarter came in at Rs 18,542.16 crore, down 52.22 per cent as against Rs 38,803.36 crore recorded during the same period of previous financial year. Net premium income for SBI Life stood at Rs 24,827.54 crore.
The value of new business during the quarter stood at Rs 1870 crore. The VNB came in at Rs 1870 crore and VNB margin was at 26.9 per cent.
Steel Strips Q3 Results Live Updates: Profit declines by 19.69% to Rs 47.71 crore
Steel Strips Wheels Ltd on Friday announced its third quarter results for FY25 with profit at Rs 47.71 crore, posting a drop of 19.69 per cent in comparison to Rs 59.41 crore recorded during the same period of previous financial year. It posted revenue from operations at Rs 1074.68 crore, down 3.21 per cent as against Rs 1110.30 crore during the same period of FY24. The company EBITDA stood at Rs 118 crore, down 1 per cent.
Infosys Q3 Results Live Updates: Guidance implies a revenue dip in Q4, says Elara Securities
Elara Securities said, “Infosys’ Q3 performance was better than our expectations, both on revenue and margin fronts, as recovery was visible in the BFS sector. Deal wins were stable – Large deal wins came in at USD 2.5bn. Based on strong 9M performance and robust deal wins, Infosys increased its revenue guidance for FY25 to 4.5% (5% now in CC), which implies a 0.8-2.5% QoQ drop in Q4E revenues in CC to reach the lower/ higher end of the annual growth guidance. Q4FY25 and Q1FY26 may witness a drag on margins due to wage hikes. So, recovery for Infosys hinges on the North American market and BFS (which have been showing signs of improvement). A sustained recovery is needed in these markets for us to turn constructive on Infosys.
Q3 Results Live Updates: Infosys a key beneficiary of expected pickup in discretionary spending in FY26, says MOFSL
Motilal Oswal Financial Services said, “We have marginally tweaked our estimates for FY25/FY26/FY27E, reflecting the anticipated QoQ revenue decline in Q4 needed to meet the upper end of guidance, alongside the cautious commentary. Nonetheless, Infosys has maintained its margin guidance of 20-22%. The company remains a key beneficiary of the expected pickup in discretionary spending in FY26.”
Q3 Results Live Updates: What to expect from Wipro’s Q3 results announcement?
Wipro is all set to announce its Q3 results today (January 17). Analysts said that Wipro is expected to post a quarterly decline in revenue as well as net profit.
Here are things to watch out for as Wipro will announce its Q3 earnings report.
Axis Bank Q3 Results Live Updates: Axis Bank reported in-line earnings as lower opex offset higher provisions, says Motilal Oswal
Motilal Oswal Financial Services, said, “Axis Bank reported in-line earnings as lower opex offset higher provisions. However, margin contracted 6bp QoQ. Asset quality deteriorated slightly as slippages increased sequentially, while GNPA/NNPA ratios were broadly stable. Credit cost rose as the bank tightened its provisioning policy. Deposit growth was muted, while advances grew 9% YoY (~5% in 9MFY25), leading to a C/D ratio of 92.6%. Average LCR increased to 119%, with outflow rates improving ~60bp over the last two years. We keenly monitor near-term growth as the C/D ratio is still high, which will constrain credit growth, while continued re-pricing of deposits may keep margins in check. We cut our FY26E/FY27E earnings by 4-5% and estimate FY26E RoA/RoE of 1.6%/14.6%.”
Swaraj Engines Q3 Results Live Updates: Profit surges by 32.57% to Rs 31.95 crore, revenue up 23.59% YoY
Swaraj Engines Ltd on Friday released its fiscal third quarter earnings with profit at Rs 31.95 crore, posting a growth of 32.57 per cent in comparison to Rs 24.10 crore recorded during the third quarter of FY24. It posted revenue from operations at Rs 345.50 crore, up 23.59 per cent as against Rs 279.55 crore during the same period of previous financial year. The company EBITDA stood at Rs 44.3 crore, up 36.4 per cent.
Driven by the robust engine demand, the company said that it posted its highest ever Q3 engine sales volume of 34,415 units during the third quarter that ended on 31st December, 2024 compared to 27,104 units during the corresponding quarter of last year.
Q3 Results Live Updates: Motilal Oswal on Infosys’ Q3 report
A report by Motilal Oswal Financial Services stated, “Infosys maintained its operating margin guidance of 20-22%, supported by pricing improvements and efficiency measures. Wage hikes, phased over Q4 and Q1FY26, are expected to create headwinds. However, potential tailwinds from cost optimizations and reductions in third-party expenses may help mitigate the impact.”
Q3 Results Live Updates: BNP Paribas on RIL’s Q3 earnings
Kunal Vora, Head - India Equity Research, BNP Paribas India, said, “RIL's Q3FY25 results were largely in-line with our estimates. Reliance retail saw an improvement in growth and is piloting express deliveries (below 10 mins) from its stores. Jio is seeing strong traction in its AirFiber services, and its non-connectivity digital revenue was up 60% y-y. We are positive about the company’s new initiatives and see weakness in RIL stock as an opportunity. RIL is one of our top picks for 2025.”
Havells Q3 Results Live Updates: Dividend declared
Havells India declared an interim dividend of Rs 4 per equity share of Re 1 each i.e. @ 400 per cent on the equity share capital of the company. “The same shall be payable to all those Shareholders whose names appear in the Register of Members as on the Record Date i.e. 22.01.2025 (a separate intimation of the same has already been given to the Exchanges vide letter dated 10.01.2025). The Dividend shall be paid/ dispatched to the shareholders on or before 30 days from the date of its declaration i.e. on or before 14th February, 2025,” it said in a regulatory filing.
Havells Q3 Results Live Updates: Profit drops by 3.34% to Rs 278.30 crore
Havells India Ltd released its fiscal third quarter earnings with profit at Rs 278.30 crore, down 3.34 per cent in comparison to Rs 287.91 crore recorded during the same quarter of previous financial year. It posted revenue from operations at Rs 4,888.98 crore, recording a growth of 10.76 per cent as against Rs 4,413.86 crore reported during the third quarter of FY24. The company EBITDA stood at Rs 426.4 crore.
Tech Mahindra Q3 Results Live Updates: Estimates for Q3 numbers
According to a CNBC TV18 poll, Tech Mahindra is expected to record Q3 profit at Rs 1081 crore and revenue for the quarter is estimated at Rs 13,343 crore. EBIT, meanwhile, is projected at Rs 1325 crore with EBIT margin at Rs 9.90 per cent.