Q3 RESULTS of Indian IT Industry: INFY, TCS

Infosys Q3 consolidated results: Net profit up by over 30%

The Group has posted a net profit after tax & minority interest of Rs 16410 million for the quarter ended December 31, 2008 as compared to Rs 12310 million for the quarter ended December 31, 2007.

TCS Q3 consolidated results: Almost no growth.

The Group has posted a net profit of Rs 13620.60 million for the quarter ended December 31, 2008 as compared to Rs 13266.70 million for the quarter ended December 31, 2007. Total Income has increased from Rs 60413.00 million for the quarter ended December 31, 2007 to Rs 71050.40 million for the quarter ended December 31, 2008.

Good show by Infy. The results show that we are yet to see the full impact of this recession on Indian IT industry yet. However, in bad times, Infosys is likely to stand out as compared to others. Wipro results are due on Jan 21. Satyam is more or less out of the game, unless we see some stupid bailout move by the government.