Infosys may lead Indian IT pack this festive season
Subscribe to enjoy similar stories. Observers of the Indian information technology (IT) services space expect Infosys Ltd to post the fastest revenue growth among the industry’s top five for the quarter ended September 2024. Brokerages Axis Capital and Nomura in their notes predicted sequential revenue growth upwards of 4% for Infosys, whereas HDFC Securities projected 3% jump in revenue.
Infosys’s growth in the three months through September 2024 is expected to exceed top dog Tata Consultancy Services Ltd (TCS)’s revenue growth of 1.5-2.4%, according to analysts at the three brokerages. “Growth (of Infosys) to be supported by ramp-up of deals won earlier and the consolidation of the in-tech acquisition," said Axis Capital analysts Manik Taneja, Saksham Savernya, and Rohit Thorat in a note dated 30 September. This April, Infosys announced its intent to acquire in-tech, a German automotive research and development (R&D) provider.
The company announced the completion of the acquisition in its June quarter earnings. Deal ramp-ups refer to a situation where an IT services company starts to get more revenue from clients with whom deals were signed in the past. As for TCS, the analysts expect its muted revenue growth to be primarily driven by the $1.83-billion 4G network deployment deal it won May 2023 from state-run telecom operator Bharat Sanchar Nigam Ltd (BSNL).
Read more on livemint.com
