TCS Leads in Q2 Profits Among IT Giants
IT Sectors are the one which concentrates more on profits and have healthy competitions among leading companies. As they produce quarterly results which consists of profits and loses occurred differs from other companies, as they uphold positions according to the gains earned by a particular company.
Corporate India is witnessing a competition of its own as outsourcing giants, and the country's biggest software exporters are competing respectively as Second quarter results season for FY 2011-12 is going on in full swing. Most of the big IT companies are done with their results. While Infosys surprised positively, TCS proved to be a spoil sport.
TCS
Tata Consultancy Services shares crashed over 7 percent as the company's little lower than expected quarterly numbers raised doubts over the software major's valuations. Number of active clients are 1,010 (35 new clients added in Q2)
India's largest software services exporter reported a 15 percent year on year rise in second quarter net profit at Rs 2,439 crore. Revenue in July-September was up 25% percent at Rs 11,634 crore. TCS rival Infosys had reported a consolidated net profit of Rs 1,906 crore, up 11 percent year on year, slightly ahead of street expectations.
Cognizant
Cognizant's better than expected financials in its second quarter of the calendar year 2011 might have changed the pecking order in the Indian IT services space. Revenue for the Q2 of 2011 rose to $1.485 billion, up 34.4 percent from $1.105 billion in the Q2 of 2010. GAAP net income was $208.0 million, or $0.67 per diluted share, compared to $172.2 million, or $0.56 per diluted share, in the second quarter of 2010.
Diluted earnings per share on a non-GAAP basis were $0.72. GAAP operating margin for the quarter was 18.2 percent. Excluding stock-based compensation expense of $23.7 million, non-GAAP operating margin was 19.8 percent, within the Company's targeted 19-20 percent range.
Infosys
Infosys Q2 consolidated net profit came in at Rs 1,906 crore, up around 11percent as compared to Rs 1,720 crore in previous quarter (Q1 FY-2012). The company's revenues were up around 8.2 percent in the quarter to Rs 8,099 crore vs
7485 crore during the same period. 45 clients added in the quarter
Earnings per share for the July-September quarter of 2011 were at Rs 33.3 as against Rs 30.14 in the previous quarter. Company has upped its full year guidance for earnings per share to Rs 143.02-145.26 as against earlier of Rs 128.20-130.08. Infosys expects revenue for FY12 in the range of Rs 33,501-34,088 crore. 45 clients were added during the quarter by Infosys.
HCL
Even as IT companies in India are reporting mixed results with a few companies beating industry estimates and few faring poorly, HCL Technologies reported below-expectation results for the quarter ended September 2011. HCL Technologies net profit dipped by 2.7 percent at497 crore and revenues came at 4651 crore for its Q2 FY 2011-12. HCL Tech, however, reported margin declines of 80-120 basis points because of higher employee costs.
Patni Computers
Patni Computer Systems consolidated net profit down by 38 percent to90.27 crore for the quarter ended September '11 as against 144.45 crore in the corresponding previous quarter. During the same period income from operations up by 8 percent to 889.34 crore against 822.70 crore in the corresponding previous quarter. Three Fortune 1000 clients added in the quarter.
On standalone basis net profit down by 39 percent to91.04 crore for the quarter ended September '11 as against 148.22 crore in the corresponding previous quarter. During the same period income from operations up by 11 percent to 533.31 crore against 482.10 crore in the corresponding previous quarter.
Corporate India is witnessing a competition of its own as outsourcing giants, and the country's biggest software exporters are competing respectively as Second quarter results season for FY 2011-12 is going on in full swing. Most of the big IT companies are done with their results. While Infosys surprised positively, TCS proved to be a spoil sport.
TCS
Tata Consultancy Services shares crashed over 7 percent as the company's little lower than expected quarterly numbers raised doubts over the software major's valuations. Number of active clients are 1,010 (35 new clients added in Q2)
India's largest software services exporter reported a 15 percent year on year rise in second quarter net profit at Rs 2,439 crore. Revenue in July-September was up 25% percent at Rs 11,634 crore. TCS rival Infosys had reported a consolidated net profit of Rs 1,906 crore, up 11 percent year on year, slightly ahead of street expectations.
Cognizant
Cognizant's better than expected financials in its second quarter of the calendar year 2011 might have changed the pecking order in the Indian IT services space. Revenue for the Q2 of 2011 rose to $1.485 billion, up 34.4 percent from $1.105 billion in the Q2 of 2010. GAAP net income was $208.0 million, or $0.67 per diluted share, compared to $172.2 million, or $0.56 per diluted share, in the second quarter of 2010.
Diluted earnings per share on a non-GAAP basis were $0.72. GAAP operating margin for the quarter was 18.2 percent. Excluding stock-based compensation expense of $23.7 million, non-GAAP operating margin was 19.8 percent, within the Company's targeted 19-20 percent range.
Infosys
Infosys Q2 consolidated net profit came in at Rs 1,906 crore, up around 11percent as compared to Rs 1,720 crore in previous quarter (Q1 FY-2012). The company's revenues were up around 8.2 percent in the quarter to Rs 8,099 crore vs
7485 crore during the same period. 45 clients added in the quarter Earnings per share for the July-September quarter of 2011 were at Rs 33.3 as against Rs 30.14 in the previous quarter. Company has upped its full year guidance for earnings per share to Rs 143.02-145.26 as against earlier of Rs 128.20-130.08. Infosys expects revenue for FY12 in the range of Rs 33,501-34,088 crore. 45 clients were added during the quarter by Infosys.
HCL
Even as IT companies in India are reporting mixed results with a few companies beating industry estimates and few faring poorly, HCL Technologies reported below-expectation results for the quarter ended September 2011. HCL Technologies net profit dipped by 2.7 percent at
497 crore and revenues came at 4651 crore for its Q2 FY 2011-12. HCL Tech, however, reported margin declines of 80-120 basis points because of higher employee costs.Patni Computers
Patni Computer Systems consolidated net profit down by 38 percent to
90.27 crore for the quarter ended September '11 as against 144.45 crore in the corresponding previous quarter. During the same period income from operations up by 8 percent to 889.34 crore against 822.70 crore in the corresponding previous quarter. Three Fortune 1000 clients added in the quarter. On standalone basis net profit down by 39 percent to
91.04 crore for the quarter ended September '11 as against 148.22 crore in the corresponding previous quarter. During the same period income from operations up by 11 percent to 533.31 crore against 482.10 crore in the corresponding previous quarter. 
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