The company saw its headcount remain flat at 31,477 employees on a quarter-on-quarter basis. The attrition rate also dropped 130 basis points to 15.2 per cent during the quarter.
The numbers were largely in line with Street expectations with a beat on the profit front. Brokerage firm IDBI Capital had pegged the profit at Rs 376 crore for the quarter while revenue was seen at Rs 2,964.9 crore.
Going forward, analysts at ICICI Securities expect the company to register an improvement in revenue growth mainly led by digital acceleration, strong niche in sub segments and ramp up in its large deal pipeline. In addition, the company is expected to register healthy growth in margins in coming years. Hence, they remain positive on the stock from a long-term perspective.
At 9:56 AM, the stock was trading 6 per cent higher at Rs 2,327.10 as compared to 0.8 per cent gain in the S&P BSE Sensex. A combined 1.7 lakh shares have changed hands on the NSE and BSE so far.
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