As per the financial details of both the big Indian IT companies, they reported a dip in headcount. On the hiring front too, the two companies witnessed a slowdown in the first quarter of the fiscal year 2024 (April to June 2023). This has triggered a fear of possible recession, which could have serious consequences for the country's wider economy given the IT sector accounts for around 8 per cent of the country's GDP., Companies News, Times Now
Net profit is at Rs 5,360 crore, or Rs 12.78 a share, compared with Rs 5,195 crore, or Rs 12.24 per share, in the same period a year back, the company said in a statement.