IT Sector Q4 Earnings - Yes It Is Double Digit, But Will It Be Low Or Mid-Teen? Nirmal Bang Preview
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Nirmal Bang Report
In Q4 FY21, Nifty IT index (up 6.6%) outperformed Nifty (up 5.1%) by 150 basis points and Nifty Bank index (up 6.5%) by 10 basis points.
While Q3 FY21 results had surprised the street with multi-year best revenue growth (QoQ) in a seasonally weak quarter, margin expansion and sustained deal win momentum, we expect ramp-up of previously signed large deals to help the sector post another stellar Q4 FY21 (in relation to history).
We expect all IT companies to report a robust QoQ performance, led by healthy demand, sustained deal pipeline conversion, stable to positively biased pricing environment and meaningful cross currency gains.
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