Information Technology Sector — Q1 FY24 Earnings Overview
5 companies reported. 1 bullish, 2 neutral, 2 bearish.
Average revenue growth: 4.6%
Sector sentiment: neutral
Aggregate revenue: ₹1,38,909 Cr
Average margin: 14.0%
Company Results
| Company | Revenue | YoY | Margin | Sentiment |
|---|---|---|---|---|
| TCS | ₹59,300 Cr | +12.6% | 23.2% | neutral high |
| Infosys | ₹37,933 Cr | +4.2% | 20.8% | neutral high |
| HCLTech | ₹26,296 Cr | +6.3% | — | bearish high |
| Tech Mahindra | ₹13,159 Cr | — | 10.0% | bearish high |
| Coforge | ₹2,221 Cr | — | 16.0% | bullish high |
Key sector risks this quarter
Infosys · high
Clients in financial services, telecom, and high-tech are pausing or slowing transformation projects, which could persist if macro conditions worsen.
Tech Mahindra · highTelcos continue to tighten budgets on both CapEx and OpEx, with discretionary spend cuts and project delays persisting.
Tech Mahindra · highSeveral large deals in CME vertical have been pushed out, impacting near-term revenue visibility.
HCLTech · highTech and telecom verticals saw deeper-than-expected cuts in discretionary spending, which may continue to pressure revenue.
HCLTech · highAnalysts questioned the feasibility of achieving guidance given the soft Q1 and the need for a sharp acceleration in subsequent quarters.