BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Accenture Plc.'s ‘headline' growth (up 9.7% QoQ, U.S. dollar) was strong in Q3 FY21 (May-21).
This was largely led by the sharp recovery in consulting (up 12.8% QoQ, U.S. dollar) and associated travel reimbursements.
However, this segment is not comparable to the Indian IT!
Outsourcing, which is more relevant, grew ~3.1%-3.6% QoQ (organic, our estimate) – largely in-line with pre-Covid-19 trends.
Historically, positive seasonality for Accenture is more pronounced in May (versus Indian IT in June), given the furloughs in the base (December month).
Guidance increase was unsurprising given the conservative guidance to start-off with.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
