India’s largest IT services provider giant, Tata Consultancy Services will announce its results for the fourth quarter of FY 2023, which ended March 31 on April 12 (Wednesday).
The results will be declared after market trading hours, the company said in a filing on BSE dated March 31.
The company said, “A meeting of the Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Wednesday, April 12, 2023, to approve and take on record the audited standalone financial results of the company for the year ending March 31, 2023.”
“The leadership team will address the media in a Press Conference at 17:30 hrs IST (20:00 hrs SST/HKT, 12:00 hrs UTC, 08:00 hrs US ET). The interaction will be telecast live on various business news channels and also streamed live on our website and on our YouTube channel.” TCS said in a statement.
However, India’s second-largest IT giant, Infosys will announce its fourth-quarter results for FY 2023 on April 13, 2023. In the case of Infosys, ICICI Securities expects revenue growth to be soft at 0.1 per cent QoQ in constant currency terms, given Q4FY23 is a seasonally weak quarter for Infosys.
Recently, Accenture announced its Q2FY23 results and also declared to lay off 19,000 employees in the next 18 months globally including India. And 50% of these layoffs will be completed by August 31, 2023.
The company has also announced muted hiring for next quarter Q3FY23 and Accenture’s Attrion Rate stood at 13% which decreased from 20% in the previous quarter.
The fourth quarter results of Indian IT firms will give us clarity about layoffs and hiring trends for current fiscal year in the Indian IT Industry and also the impact of the global banking crisis.
