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 2018-19 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 2017-18.
This report discusses the financial results of the top 19 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 $14.8 billion, representing 8.2 percent year-over-year growth rate. Only three out of the 19 companies reported a slight year-over-year decrease in software or product revenues, while the rest showed growth in Q1. The rupee depreciated by 3.1 percent during the quarter compared with the same period last year.
India’s IT 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 converted the 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.
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Keywords: Information Technology (IT), IT Services, Quarterly Supplier Revenues, Software Development, Business Process Outsourcing (BPO), ARC Advisory Group.