TCS, Infosys and HCL Tech’s Q1 earnings? Who comes the top!

TCS, Infosys and HCL Tech's Q1 earnings
TCS, Infosys and HCL Tech's Q1 earnings

TCS, Infosys and HCL Tech’s Q1 earnings? Who comes the top! India’s second largest IT major Infosys has delivered 21.4 percent year-on-year (YoY) constant currency revenue growth. This growth considers in rupee term was 17.5 percent. And the growth of Infosys was better than  Tata Consultancy Services and HCL Tech which are the top 3 lists. Meanwhile, the performance of Infosys was not good and had the contraction of 360 basis points on-year to 20 percent.

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But, TCS has scored basis-point cut in margins to 23.1 percent and basis points of HCL was 17 percent. However, Infosys has a strong growth in Information technology sector. Meanwhile, Aniket Pande, Lead Analyst at ICICI Securities said, upcoming years Infosys will remain the fastest growing IT giants across the world. And he asserts that, this process will be very slow and gradual. Moreover, the attrition rate of Infosys was 20 to 29 percent during this period along with TCS and HCL, a report says. But the new hiring of these IT giant is highly most.

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According to this, TCS has hired more than 10,000 employees in the first quarter of this fiscal year. Like that, Infosys hired 15,000 new employees in the last quarter. And this IT firm is going to hire 40,000 freshers in FY23. HCL Tech also said its target to hire 30,000 to 35,000 freshers in this financial year. While, HCL Tech kept guidance at 12 to 14 percent CC growth in revenue Infosys increased 14 to 16 revenue guidance, report said.

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