IT Sector: In the past two weeks of the final quarter and full fiscal 2024 earnings announcements, most IT majors failed to meet their revenue growth guidance. Many downward revisions for the year ahead were seen despite most firms bagging large deals and sitting on an arsenal of historic total contract value (TCV) wins.
In the past two weeks of the final quarter and full fiscal 2024 earnings announcements, most IT majors failed to meet their revenue growth guidance. Many downward revisions for the year ahead were seen despite most firms bagging large deals and sitting on an arsenal of historic total contract value (TCV) wins.
As the original sunrise sector of post-liberalization India, the IT industry has been the crowning jewel of the domestic economy for decades. A job in the IT sector has been, often literally, the passport to a better life for millions of young graduates. Is this paradigm changing?
Analysts said that the company s new CEO, Mohit Joshi, unveiled a 3-year turnaround plan to exceed industry-leading revenue growth by FY27. "We believe near-term monitorable for the company s progress towards this goal would be immediate margin improvement in FY25 and steady revenue growth improvement in subsequent years," said Nomura in a note.