IT Sector Q4 Review - Another Good Quarter Of Revenue, Margin Growth: KRChoksey
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KRChoksey Research Report
Revenue for the IT firms under our coverage rose 1.6-9% QoQ in U.S. dollar terms (0.7-9.1% QoQ rise in constant currency terms) in Q4 FY21, with most companies’ revenue ahead of our estimates led by continuing digital client investments across verticals and strong deal wins, mainly towards digital transformation initiatives, particularly movement of workloads to cloud.
Ebit margin performance for IT firms in our coverage universe was mixed, with Infosys Ltd., Wipro Ltd., HCL Technologies Ltd. and Mindtree Ltd, reporting lower margins on wage hike impact, even as peers reported margin expansion despite wage hike impact, aided by growth leverage and cost control.
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