Indian IT - Accenture’s Q3 FY21 Result Suggests A Further Acceleration In Industry Growth: Motilal Oswal

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Indian IT - Accenture’s Q3 FY21 Result Suggests A Further Acceleration In Industry Growth: Motilal Oswal

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.

Motilal Oswal Report

Accenture Plc. reported strong Q3 earnings, increasing its FY21 revenue growth guidance by 300 basis point (midpoint) on better than expected demand environment.

We see its Q3 FY21 delivery and commentary as a positive read-across for our Indian IT services coverage as it indicates continued robust demand in key industries.

Key takeaways from the Q3 FY21 earnings-

  • Revenue at $13.3 billion was 400 basis point above Bloomberg consensus estimates.

  • The company reported strong deal wins of $15.4 billion (book-to-bill of 1.2 times), up 40% YoY (outsourcing total contract value up 53% YoY), although marginally below its Q2 FY21 peak.

  • Consulting revenue was up 13% QoQ in U.S. dollar terms, the fastest in the last four years.

Click on the attachment to read the full report:

Motilal Oswal Technology Sector Update.pdf

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