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Top tier IT firms likely to report stellar growth in FY23 backed by strong demand
Synopsis
The aggregate dollar-denominated revenue of the country’s top five exporters increased by 4.4% sequentially, which was similar to the growth in the previous quarter. On a year-on-year basis, it grew by 17.8%. HCL Tech and Infosys reported the highest sequential growth of 6.7% and 6.3% in that order.
ET Intelligence Group: Analysts expect top information technology companies to post double-digit revenue growth for FY23 following a robust performance in the December quarter. A strong order book backed by sustained momentum in digital adoption by clients offers improved revenue visibility. The margin performance may, however, remain range-bound given higher recruitment costs as companies strive to retain and hire talent amid high
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