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TCS and Infosys will release their Q3 earnings today amid expectations of weak numbers. However, bulls believe that this could be the last dull quarter before revenue growth picks up in Q4. Analysts anticipate TCS to deliver 1.5% QoQ cc revenue growth driven by large deal ramp-ups, with margin expansion driven by operational efficiencies. On the other hand, Infosys is expected to see a decline in USD revenue due to seasonal furloughs and the impact of a slowdown in discretionary tech spending.
Kumar Rakesh says: " While the market share of individual companies may have changed materially, pace of increase in the total share of the current top four companies has significantly slowed down in the recent months. That suggests to us that the bulk of the consolidation of the e2W industry is done. "
India s top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage.
IT services and consulting firm Accenture s first quarter numbers in FY24 showed a significant pick up in GenAI spending.
It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.