Indian IT services companies are expected to log a muted show in June quarter with wage hikes keeping margins under pressure amid weak macro overhang, cuts in discretionary spends, and project delays, say analysts.
Some brokerages, in fact, have cautioned that pain will continue for the tech pack up ahead, as recovery is likely to be more gradual, only around Q4 FY24 or in FY25.
As tech companies head into Q1 earnings season this week, experts will also be keeping a close watch on any management commentary on the revision of the growth outlook for FY24, the spread of demand deterioration beyond BFSI (banking, financial services and insurance), hi-tech, telecom and retail verticals, net hiring, project ramp downs and pricing pressures, as key monitorables.
Tata Consultancy Services (TCS) and HCL Tech are scheduled to declare their results on July 12, followed by Wipro’s report card a day later (July 13). Infosys will announce its Q1 numbers on July 20, while LTIMindtree is slated to
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