Information Technology Sector — Q1 FY25 Earnings Overview
5 companies reported. 2 bullish, 3 neutral, 0 bearish.
Average revenue growth: 2.0%
Sector sentiment: neutral
Aggregate revenue: ₹1,45,348 Cr
Average margin: 10.7%
Company Results
| Company | Revenue | YoY | Margin | Sentiment |
|---|---|---|---|---|
| TCS | ₹62,613 Cr | +5.4% | 24.7% | neutral medium |
| Infosys | ₹39,315 Cr | — | — | bullish high |
| HCLTech | ₹28,057 Cr | +5.6% | — | neutral medium |
| Tech Mahindra | ₹13,006 Cr | -1.2% | 12.0% | neutral medium |
| Coforge | ₹2,357 Cr | — | 17.0% | bullish high |
Key sector risks this quarter
TCS · high
North America revenue declined 1.1% YoY and BFSI remained negative YoY, with management citing ongoing client uncertainty and delayed decision-making.
Tech Mahindra · mediumManagement noted telecom sector remains challenged; while decline moderated to single digits, no immediate upturn is expected.
Tech Mahindra · mediumManagement acknowledged that BFSI vertical is relatively small, so a few million dollars can cause quarter-to-quarter volatility.
Infosys · mediumOutside US financial services, discretionary spending continues to be weak, particularly in retail and high-tech, which could limit revenue upside.
Infosys · mediumManagement has not decided on wage revisions, which could be a margin headwind if implemented in coming quarters.