The winter for the general engineering R&D (ER&D) space is over and spring may be around the corner, LTTS said in its December quarter (Q3FY24) earnings call. In fact, LTTS is of the view that this is likely to be the case for the entire industry. Yes, potential interest rate cuts by the US Federal Reserve in 2024 is fuelling hopes of revival for IT companies. Nonetheless, amid the looming global macro uncertainty and with tier-1 IT firms still cautious about near-term demand, LTTS’ outlook appears bold.
In Q3, LTTS sequential constant currency revenue growth at 0.9% missed consensus estimate, impacted by furloughs. But the management has retained its FY24 CC revenue growth guidance of 17.5-18.5% year-on-year. In contrast, larger peer Infosys tightened its FY24 CC revenue growth guidance from 1.0-2.5% year-on-year to 1.5-2.0%. HCL Technologies narrowed its overall FY24 CC revenue growth guidance from 5-6% earlier to 5.0-5.5%.
Diese Geschichte stammt aus der January 18, 2024-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der January 18, 2024-Ausgabe von Mint Mumbai.
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