New Delhi: Three IT services majors — Infosys, TCS, and Wipro — are among the first set of large-cap companies to announce December earnings on Wednesday. The third quarter is typically seen as the lull period for the IT services sector as a result of furloughs in its majority markets, including the US and Europe. The operating margin of India Inc is likely to witness a drop in the December quarter with a 100-120 bps year-on-year (YoY) decline, as 27/40 sectors are set to see crimped margins despite higher revenue, according to the Crisil report quoted in a PTI report. ALSO READ: World Bank Retains India’s Growth Projection At 8.3% For FY22 However, Indian IT sector is expected to post strong growth despite cost pressure. Higher cost of hiring, surging salaries, and lower working days may have a bearing on margins but falling rupee compared to the dollar may help. Surging commodity prices and price hikes may help companies report a healthy 16-17 per cent revenue growth to Rs 9.1 lakh crore during the quarter ending December, the Crisil report said on Tuesday. Here Are Projections For December Results Wipro: Wipro is expected to report rupee revenue growth in the… Read full this story
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