LTIMindtree

2023年7月28日

广告印度IT括号后动荡的财政颠簸起飞的印度顶级IT公司以恒定的货币收入增长-5%至1%。指导其他财政同样暗淡。2023年7月28日,是2023年7月28日,下午4:05坚持下午4:05 WhatsApp拯救显然,印度的2450亿美元信息技术服务产业已经流行高点。(来源:Unsplash) 4 - 6月是五年来最艰难的季度,据CP Gurnani, Tech Mahindra Ltd .)首席执行官同行的一些印度最大的IT公司不会同意这一评价。印度’s top-tier software services firms—Tata Consultancy Services Ltd., Infosys Ltd., HCL Technologies Ltd., Wipro Ltd., LTIMindtree Ltd., and Tech Mahindra Ltd.—clocked constant currency revenue growth of -5% to +1% in the first ... April-June was "the toughest quarter in five years", according to CP Gurnani, chief executive officer at Tech Mahindra Ltd. His peers at some of India’s largest IT firms won’t disagree with that assessment. India’s top-tier software services firms—Tata Consultancy Services Ltd., Infosys Ltd., HCL Technologies Ltd., Wipro Ltd., LTIMindtree Ltd., and Tech Mahindra Ltd.—clocked constant currency revenue growth of -5% to +1% in the first quarter of fiscal 2024. That compares with the high single-digit to double-digit sequential growth seen a year ago. That’s dismal. Their guidance for the rest of the fiscal doesn’t provide much succour either. IT bellwether TCS, which doesn’t quantify its growth expectations, said the double-digit growth targeted earlier was out of the question. That was still okay until a shocker from its closest rival. Infosys, the other pacemaker, has slashed its revenue growth guidance to 1-3.5% for FY24, as against 4-7% predicted at the end of the previous fiscal. A topsy-turvy Nifty IT has cues on what’s to come. The gauge of India’s top 10 information technology stocks launched into an upward trajectory after TCS declared muted earnings that met estimates. It plunged a week later, when Infosys cut its guidance after dismal results. Clearly, India’s $245 billion information technology services industry has come off its pandemic highs, when digital transformation deals were a dime a dozen. The deal pipeline has slowed to a trickle now because persistent macroeconomic headwinds in the U.S. have clients cautious about IT spending. Discretionary spending has dried up. Only long-term, cost-efficient deals are coming in, and that too with a lag. Dealmaking isn’t meaningfully converting into revenue. That’s affecting operational profitability as well. Where does Indian IT go from here? According to a June 15 research report by JPMorgan Chase & Co., the industry is staring at a longer-than-expected slowdown, if not a complete washout, in FY24. Now, some are even questioning the prospects of a revival in FY25. "We have been negative on the sector for the last 15 months. We continue to be cautious even now, as we believe the worst on the macro front is ahead of us and not behind us," Nirmal Bang Securities Pvt. said in a July 21 note. "We suspect our consensus FY25 earnings may not be as robust as expected as a likely U.S. recession gets pushed back into 2024." ADVERTISEMENT ADVERTISEMENT