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India’s top IT firms are expected to post strong revenue growth for the fourth quarter, analysts and brokerage firms have said, while the ongoing talent shortage and inflation-led pressures are likely to drag down margins.
Tech Mahindra, among the top five IT services providers, is expected to lead revenue growth sequentially led by a string of acquisitions. Infosys and Wipro are expected to lead on the organic growth front, they said.
The financial results season will kick start next week with Tata Consultancy Services (TCS) on Monday (April 11), followed by Infosys (April 13), and HCL Technologies and Wipro later in the month.
TCS, India’s largest IT service provider by revenue, is expected to report 2.8-3.3% revenue growth on a sequential basis and 15% year on year, backed by stable demand.
Infosys is expected to report around 3% sequential revenue growth due to a higher base from the third quarter, while year on year revenue growth is expected to be in the range of 25-26.5%.
Wipro’s revenue is expected to grow at 3-3.4% quarter on quarter — within its guided range for the quarter – led by banking and financial services, and healthcare as top-performing verticals.
HCL Technologies is estimated to clock 0.5-2% growth in sequential revenue due to a double-digit fall in its products and platforms business on account of seasonal factors.
Wipro’s revenue growth on a yearly basis is estimated at around 27.5%, while HCL Tech is expected to grow at 14-16.3% on-year.
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