Top tier IT firms likely to report stellar growth in FY23 backed by strong demand
Dustin Moskovitz
Analysts expect the growth momentum to sustain in the coming year.
Synopsis
The aggregate dollar-denominated revenue of the country’s top five exporters increased by 4.4% sequentially, which was similar to the growth in the previous quarter. On a year-on-year basis, it grew by 17.8%. HCL Tech and Infosys reported the highest sequential growth of 6.7% and 6.3% in that order.
ET Intelligence Group: Analysts expect top information technology companies to post double-digit revenue growth for FY23 following a robust performance in the December quarter. A strong order book backed by sustained momentum in digital adoption by clients offers improved revenue visibility. The margin performance may, however, remain range-bound given higher recruitment costs as companies strive to retain and hire talent amid high
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ET Bureau
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