India’s IT services sector predicted weak Q1 performance amid economic slowdown

  • India’s IT Services industry expected to show down performance in Q1 of FY24, due to bleak economy and global tech spending.
  • Revenues of Tata Consultancy Services (TCS) and Infosys to grow by 0.2% and 0.8% respectively, while revenues of Wipro and Tech Mahindra are projected to fall.
  • Softness in consulting revenue and small deal sales might contribute to the dismal performance during the June quarter.
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