Indian IT Companies Witness Consistent Double-Digit Growth in 2Q FY14
Keywords: Information Technology Services, India It Service Providers, Quarterly Supplier Revenues.
The Indian information technology (IT) services market appears to be doing quite well, with most of the IT services companies covered in this report reporting double-digit growth. In this report, we analyze the second quarter of financial year 2013-14 of the Indian IT sector and compare it with same period the previous year.
This report discusses the financial results of the top 18 India based IT companies listed on either the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), or both. We believe this Insight provides a representative sample of the Indian IT market. The suppliers included in this report recorded combined quarterly revenue of over $10 billion, representing 12 percent year-over-year growth rate. Just three out of 18 companies, reported year-over-year decreases in software or product revenues, while the rest showed growth in the 2Q. In this report, we have combined Mahindra Satyam and Tech Mahindra's revenues and added Infotech Enterprises in the 2Q.
This ARC Advisory Group report discusses the most recent quarterly revenue results of the most prominent publicly traded IT services companies based in India. We translated financials reported in Indian Rupees to US dollars using an average exchange rate for the given reporting period. Owing to this conversion, some companies may show negative growth. The suppliers' reporting period for this analysis is the quarter ending in September, unless stated otherwise. We have considered the consolidated revenues for all vendors, including subsidiaries' revenues, with the exception of Wipro. For Wipro we have considered IT products and services only. As already mentioned, from 2Q FY14 we include the combined revenues of Mahindra Satyam and Tech Mahindra for our analysis.
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