AI's passage from India - a jewel in the crown for Wipro, Infosys and Tech Mahindra?

Three of India’s services giants turned in basically robust Q3 numbers last week, with their CEOs inevitably talking up an AI-fuelled boom ahead.

For Q3, Wipro turned in revenue of $2,608.9 million, up 0.5% year-on-year, with profit of $392.0 million, up 24.5%. Meanwhile Infosys reported $4,939 million in Q3 revenues, up 6.1% year-on-year, with net profit of $806 million, and Tech Mahindra revenues of $1,567.million, down 0.4% year-on-year with profit of $116 million up 88.5%.

All three firms emphasized their progress in and expectations for their AI businesses as they move into calendar year 2025. For Wipro, CEO Srinivas Pallia said:

We have made good progress in our consulting-led AI-powered industry and cross-industry solutions. This quarter, we had several successes across our industry solutions, including Payer-in-a-box wealth AI and software-defined vehicle. And additionally, we also secured multiple cross-industry ...