India’s IT Industry Continues Upward Momentum in Q1 FY17-18

By Leena Kanickaraj

ARC Report Abstract

India’s information technology (IT) services industry continues its growth trajectory as most of the IT services companies covered in the report exhibited above-average growth. In this report, we analyze the revenues of India’s IT services sector for the first quarter of financial year 2017-18 and compare these with the same period the previous year. This follows closely ARC Advisory Group’s recent Insight on this sectors’ performance in the fourth quarter of FY 2016-17.

This report discusses the financial results of the top 20 India-based IT companies listed on the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), or both. We believe this Insight provides a representative sample of India’s IT market. The suppliers included in this report recorded combined quarterly revenue of $13.7 billion, representing 6.4 percent year-over-year growth rate. Only two out of the 20 companies reported a slight year-over-year decrease in software or product revenues, while the rest showed growth in Q1. The rupee minimally appreciated by 3.1 percent during the quarter compared with the same period last year.

Supplier Revenues
This ARC Advisory Group report discusses the most recent quarterly revenue results of the major 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 translation, some companies may show negative growth. The suppliers’ reporting period for this analysis is the quarter ending in June unless stated otherwise. We have considered the consolidated revenues for all vendors, including subsidiaries’ revenues, except for Wipro, for which we only considered IT products and services.

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Keywords: IT (Information Technology), IT Services, Quarterly Supplier Revenues, Software Development, Business Process Outsourcing (BPO), ARC Advisory Group.

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