Key Points
New Delhi: 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. . . . View Full Image..
Together with banking and financial services companies, the IT sector overwhelmingly cornered 57% of India Inc.s bottom line in the quarter ended March 2020, down to 42% now..
The Indian IT sector is expected to see moderate growth this year because of continued issues in the BFSI (banking, financial services and insurance) industry and worries about a global economic slowdown," said Vinod T.P., an analyst at Geojit Financial Services..
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