January 9, 2019
TCS, Infosys, HCL forecast to report strong Q3 earnings
Global IT and outsourcing firms TCS, Infosys and HCL are forecast to report strong third-quarter profits on the back of a string of deals. Experts warned, however, that the weaker rupee, global trade friction, and Brexit uncertainties could affect outsourcing demand in India this year. TCS, which is set to lead the sector’s October-December earnings announcements on Thursday, is expected to see its net profit jump by more than 26% to US$1.2 billion for the quarter. Infosys, which will report results on Friday, is likely to post about a 12% rise in net profit, according to analysts. HCL is expected to report more than a 16% increase in its net income, while Wipro is forecast to have at best a 2% increase in dollar revenue.