BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
We had three tier-I India heritage IT Services companies – Tata Consultancy Services Ltd., Infosys Ltd. and Wipro Ltd. report Q3 FY22 earnings yesterday.
In a seasonally weak quarter, Infosys (to a greater extent) and TCS (to a lesser extent) delivered better-than-expected revenue growth. Wipro reported weaker-than expected revenue growth, but within its guided band.
Commentary of all three managements indicated continuing strong demand environment and echoes the views of Accenture. Higher tech intensity (higher spend on technology as percentage of sales) will be the key driver of the higher than FY15-FY20 growth trajectory that we are likely to see in the foreseeable future. This is because more and more technology will get infused into various operations of customer companies.
Deal pipelines were indicated at their highest ever levels by all three players. Digital transformation and cloud seem to have been a big source of growth.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR