BusinessIndian IT Sector Braces For Weakest Quarter In 8 Years: Report
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Indian IT Sector Braces For Weakest Quarter In 8 Years: Report
Traditionally, September quarter is one of the better quarters
Slowdown in BFSI and healthcare segment to hurt IT firms earnings
Delay in project ramp-ups is also seen to hurt revenues
TCS and Infosys are set to announce their quarterly earnings later this week
Domestic IT sector is likely to see its weakest September quarter in the past 8 years due to broad based slowdown in BFSI and healthcare as well as delays in projects across many clients, says a report.
According to Kotak Institutional Equities, the largest IT players are expected to see revenue growth rate at 0.5-3 per cent during July-September quarter of 2016-17 compared to preceding quarter.
"Second quarter for the current fisc...