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.
Motilal Oswal Report
We expect strong median revenue growth (up 4.2% constant currency QoQ) and Ebit/profit after tax growth of 5.8/6.2% in Q3 FY22 for our IT services coverage universe.
The strong demand environment is expected to continue in Q3 FY22, with tier-II players again outgrowing tier-I companies within our coverage universe.
Despite adverse seasonality, tier-I companies should deliver revenue growth in the 3.2-4.8% QoQ constant currency range, while tier-II players will have a wider band of 3.6- 7.1%.
We expect a strong initial outlook for FY23E, with companies maintaining their view of multi-year growth tailwinds on the back of cloud migration. Guidance for Q4 FY22 is also expected to be positive on the back of continuing deal wins.
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