Information Technology Sector — Q2 FY25 Earnings Overview
5 companies reported. 4 bullish, 1 neutral, 0 bearish.
Average revenue growth: 4.1%
Sector sentiment: bullish
Aggregate revenue: ₹1,50,446 Cr
Average margin: 7.4%
Company Results
| Company | Revenue | YoY | Margin | Sentiment |
|---|---|---|---|---|
| TCS | ₹64,259 Cr | +7.6% | — | neutral medium |
| Infosys | ₹40,986 Cr | +3.3% | 21.1% | bullish high |
| HCLTech | ₹28,862 Cr | +6.2% | — | bullish high |
| Tech Mahindra | ₹13,313 Cr | +3.5% | — | bullish medium |
| Coforge | ₹3,026 Cr | — | 15.8% | bullish high |
Key sector risks this quarter
Tech Mahindra · high
Communications vertical declined 1.7% YoY as clients prioritize cost savings; U.S. telecom remains stressed.
HCLTech · highManagement cited geopolitical factors and global economic conditions as potential headwinds, and noted that discretionary spending can turn quickly.
TCS · highA large life sciences client abruptly reduced scope, causing revenue decline. Recovery depends on client's future investment decisions.
Coforge · mediumIncremental ESOP cost of ~120bps per quarter in H2 FY25 will pressure reported EBITDA margins.
Coforge · mediumSome GCC deals have a build-operate-transfer structure, leading to potential revenue cliff after the initial mandate period.