The first major company to declare its financial results for the quarter ended March will be Tata Consultancy Services Ltd. Along with it, Anand Rathi Wealth Ltd. and National Standard (India) Ltd. will announce their earnings for the last quarter of fiscal 2023 on Wednesday.
The quarterly earnings for TCS will be seen in the light of a global banking crisis and a possible recession in U.S. and Europe. The BFSI segment has been one of the major revenue earners for Indian IT bellwethers, whereas the western markets make up a lion's share of their business.
The Indian software major is expected to post a revenue of Rs 59,504.96 crore, compared to Rs 58,229 crore in the previous quarter. EBIT is expected to climb up to Rs 14,896.41 crore from Rs 14,284 crore in the December quarter.
Consolidated net profit for the period under review is likely to rise to Rs 11,535.41 crore, against Rs 10,846 crore in the previous quarter.
Analyst estimates for revenue from banking, financial services and insurance segment stand at Rs 18,548.68 crore, down from Rs 22,145 crore in the previous quarter.
Here are the estimates for major earnings scheduled for today:
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