Highlights of the Results for the Quarter ended September 30, 2019:
Gross Revenue was ₹151.3 billion ($2.1 billion), an increase of 4.0% YoY
IT Services Segment Revenue was at $2,048.9 million, an adjusted2 increase of 2.5% YoY
Non-GAAP3 constant currency IT Services Segment Revenue increased by 1.1% QoQ. Adjusted2 Non-GAAP3 constant currency IT Services Segment Revenue grew 3.8% YoY
IT Services Operating Margin4 for the quarter was at 18.1%, an increase of 3.1% YoY
Net Income for the quarter was ₹25.5 billion ($361.4 million), an increase of 35.1% YoY
EPS for the quarter was ₹4.3 ($0.061 ) per share and grew 36.7% YoY
Performance for the quarter ended September 30, 2019
Abidali Z. Neemuchwala, CEO and Managing Director said, “We had a good in-quarter execution on both revenues and margins. The overall growth was broad based with 6 out of 7 industry verticals growing on a YoY basis and we signed a large deal in India aligned to our strategy of taking global offerings to India customers.”
Jatin Dalal, Chief Financial Officer said, “We delivered operating margins in a tight range after absorbing the impact of two months of wage hike. Growth remains our priority and we remain invested for future. We also successfully completed the Share Buyback program in September, which saw strong participation from our investors.”
Outlook for the Quarter ending December 31, 2019
We expect Revenue from our IT Services business to be in the range of $2,065 million to $2,106 million*. This translates to a sequential growth of 0.8% to 2.8%. * Outlook is based on the following exchange rates: GBP/USD at 1.23, Euro/USD at 1.11, AUD/USD at 0.68, USD/INR at 70.59 and USD/CAD at 1.32
