Accenture, Dublin-based which follows a September-toAugust financial year, has a substantial portion of its workforce based in India. Its results, serve as an indicator of the broader trends and potential outcomes in the Indian IT sector.
Two key takeaways from Accenture's commentary stand out for Indian IT, according to analysts. First, the consulting segment will return to growth in Q4; and second, bookings-to-revenue conversion is improving.
"Indian IT services companies have been reeling under the low deals-to-revenue conversion, and any signs of that improving is positive," said Vibhor Singhal of Nuvama Equities in a co-authored note with Nikhil Choudhary and Yukti Khemani.
Accenture's Q3 revenue on Thursday came in at $16.5 billion, up 1.4 per cent year-on-year (Y-oY) in constant currency (CC). While revenue from outsourcing was up 4 per cent CC Y-o-Y, it fell 1 per cent for the consulting segment.
This story is from the June 22, 2024 edition of Business Standard.
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This story is from the June 22, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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