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IDBI Capital Report
Previous deal wins, cloud migration and digital technologies are continuing to drive revenue growth in the current quarter. However, we are also witnessing some caution commentary from IT players especially smaller ones who have indicated that some clients are watchful of on-going macro situation.
We expect inflation and macro to have impact on revenue and margins post two quarters. In the current quarter we expect large caps to register dollar growth of 2-4% QoQ in constant currency terms offset by 20-140 basis points cross currency impact.
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Among mid-caps we expect revenue growth of 2-5% QoQ in CC offset by 40-100 bps cross currency impact. Margins across companies are expected to decline by 50-300 bps mainly led by wage hikes, visa cost, travel and lower utilisation.
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