The first quarter (Q1) earnings of leading Indian information technology (IT) services firms give a clear indication that the worst may be over for the industry, and that growth revival is already underway, albeit at a slower pace.
Despite revenue contraction on a sequential basis, Tata Consultancy Services (TCS), Infosys, and Wipro had won many large deals in the April-June quarter — an indication that tier-I firms have benefited from vendor consolidation, said experts and brokerage firms. Also, management commentary of these three IT majors showed that the slowdown is more ...
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