The share of the information technology sector in the overall corporate profits pool plunged to at least a 21-quarter low (five years) of 9.7% in the March quarter, a Mint analysis of the latest corporate earnings data showed.
The share has declined nearly 3 percentage points in the past year and is sharply down from 34% share in profits in the March 2020 quarter.
The sector is reeling under the shadow of a slowdown, and is under pressure amid global macroeconomic uncertainties and a banking crisis in US and European banks.
The analysis is based on a compilation of the recent earnings season's data collated from the Capitaline database for 1,252 BSE-listed companies. This included 66 companies from the IT and IT-enabled services space.
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