There is going to be a tsunami of jobs in the country amid the Corona epidemic. In fact, the country's three largest IT companies have released their first quarter (April-June) corporate results. TCS, Infosys and Wipro have made a profit of Rs 17,446 crore. In such a situation, these companies have promised to provide jobs to 1 lakh 5 thousand freshers in the current financial year March 2021-April 2022.
The industry's largest company Tata Consultancy Services (TCS) reported a profit of Rs 9,000 crore in the June quarter. On Thursday, Wipro also released the Q1 results. The company reported a profit of Rs 3,243 crore against Rs 2,390 crore in the same quarter last year.
Similarly, Infosys also made the highest profit in the last 10 years in the first quarter, which stood at Rs 5,195 crore. Infosys CEO and MD Salil Parekh said that this is the fastest growth in a decade in the first quarter.
While releasing the quarterly results, Wipro said that its revenue also increased by 12% to Rs 18,252 crore in the June quarter, from Rs 14,913 crore a year ago. Apart from this, the revenue from IT services stood at Rs 18,048 crore. The company added 129 new customers to its portfolio during the June quarter. The company said that it will give jobs to 6000 IT professionals during July-September, while in 2021-22 it has promised to give jobs to 30,000 freshers.
Let us inform you that due to the Corona epidemic, work from home and online education in corporates has accelerated the pace of business growth of IT companies. As a result, companies have got big deals. According to the information given to the exchange, Infosys got a deal worth Rs 19,381 crore and TCS got Rs 60,381 crore in the June quarter. Apart from this, Wipro also got 8 new deals worth Rs 5,325 crore.
According to Suyog Kulkarni, Senior Research Analyst, Reliance Securities, cloud, data analytics, customer experience and cyber will be the key drivers for the IT sector in the coming days. Apart from this, the increasing share of outsourcing in Europe and expansion of consultancy, engineering R&D will also be very important.
Buying advice on the shares of the biggest companies of the sector in terms of the period of 2 years. A target of Rs 4,180 has been given on the share of TCS, which has closed at Rs 3201.50 at the close of the market on Thursday. Similarly, a target of Rs 1,920 has been given on the stock of Infosys.
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