- Wipro shares rose 4% after reporting a 4.3% net profit decline in Q1FY27
- Coforge gained 2.6% with revenue up 24.2% and EBIT margin improving to 17%
- KPIT Technologies fell 7.3% as net profit dropped 28.1% and revenue declined 2.1%
IT stocks are trading mixed on Thursday, with Wipro and Coforge leading the gains, while KPIT Technologies and Hexaware Technologies remain under pressure after their quarterly earnings. The Nifty IT index is up around 2%.
Stock-specific earnings continue to drive investor sentiment, with market participants weighing individual results rather than making broad sectoral bets amid the ongoing earnings season.
As of 10:40 am, Wipro is trading 4% higher at Rs 190.96 on the NSE, while Coforge is up 2.6% at Rs 1,759.8.
On the flip side, KPIT Technologies is down 7.3% at Rs 590.9, while Hexaware Technologies has fallen nearly 6.5% to Rs 578.3.
Also Read: KPIT Technologies Shares Fall 5% After Net Profit Drops 28% QoQ
Q1 Earnings Driving Investors' Sentiments
Wipro Q1FY27 Highlights Cons, QoQ
- Net profit down 4.3% to Rs 3,352 crore from Rs 3,502 crore (estimate of Rs 3,423 crore)
- Revenue up 1% to Rs 24,479 crore from Rs 24,236 crore (estimate of Rs 24,601 crore)
- Ebit down 8.4% to Rs 3,829 crore from Rs 4,181 crore (estimate of Rs 4,037 crore)
- Margin down 160 basis points to 15.6% from 17.2% (estimate of 16.4%)
Coforge Q1 Results - Cons, QoQ
- Net profit down 15.3% at Rs 519 crore vs Rs 612 crore
- Revenue up 24.2% at Rs 5,528 crore vs Rs 4,450 crore
- To pay an interim dividend of Rs 4 per share
- EBIT up 38% at Rs 964 crore vs Rs 696 crore
- EBIT margin at 17% vs 16% QoQ
- One-time loss of Rs 55 crore in Q1
KPIT Technologies Q1 Results – Cons, QoQ
- Net Profit: Rs 117 crore, down 28.1% QoQ (vs Rs 163 crore)
- Revenue: Rs 1,675 crore, down 2.1% QoQ (vs Rs 1,711 crore)
- Ebitda: Rs 272 crore, down from Rs 322 crore QoQ
- Ebitda Margin: 16.2%, down from 18.8%
Hexaware Technologies Q1 Results: Cons, QoQ
- Net profit fell 6.1% QoQ to Rs 330 crore from Rs 352 crore.
- Revenue increased 5.7% QoQ to Rs 3,845 crore from Rs 3,639 crore.
- Ebit rose 9% QoQ to Rs 524 crore from Rs 480 crore.
The sector is expected to remain stock-specific in the near term as more companies announce their quarterly results and provide business updates. Investors are likely to continue tracking earnings commentary, order pipeline, deal announcements and management outlook for indications on the strength of technology spending and the pace of recovery in the global IT services market, which could determine the next leg of movement for IT stocks.
Also Read: Buy, Sell Or Hold: Bank of Baroda, Wipro, BEL, Fractal Analytics, Gland Pharma — Ask Profit
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