What RIL, Infosys have in store on Jan 16

Infosys and Mukesh Ambani led-Reliance Industries are set to announce their third quarter results on January 16

Hyderabad: IT major TCS kicked off the third quarter results season with the company more or less meeting analysts’ expectations while HCL Tech disappointed. Will Infosys prove to be better?

Two major results will be announced on January 16 — Infosys and Mukesh Ambani led-Reliance Industries, .

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According to Goldman Sachs, RIL is expected to post Q3 core EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) growth of 5% on-quarter but will remain largely flat on a year-on-year  basis as weakness in energy and muted retail growth may impact strong telecom earnings growth.

Jio saw a decline in reported subscribers in Q2.

In Q2, RIL reported a 3.6% decline in consolidated net profit to Rs 19,101 crore from Rs 19,820 crore in Q2 FY24. Gross revenue rose 0.8% to Rs 2,58,027 crore in the second quarter from Rs 2,55,996 in Q2 FY24.

Infosys
Infosys will announce results for the third quarter ended December 31, 2024, on January 16, 2025, around 3:45 pm Indian Standard Time (IST), the IT firm said in a filing to the BSE.

In Q2, it reported a 4.7 per cent year-on-year rise in the consolidated net profit to Rs 6,506 crore, compared with Rs 6,212 crore in the same period the previous year.

Revenue from operations rose 5.1 per cent to Rs 40,958 crore, compared with Rs 38,994 crore a year-ago.

According to PTI ,  Infosys has reportedly deferred the annual salary hike in the fourth quarter of FY25. The company last implemented a salary hike in November 2023. The delay in the salary hike, which is usually implemented at the beginning of the year, indicates that the domestic IT sector is still facing uncertainties.