ETtechETtechETtechAs the financial year 2023 drew to a close, IT majors announced tepid revenue growth projections for FY2024 on macroeconomic headwinds and challenges dogging the BFSI sector — their largest revenue driver. Wipro CEO Thierry Delaporte , the highest paid in the Indian IT sector during FY22, remains the highest paid among the three with Gopinathan, an internal hire, being paid the lowest.Wipro had locked in a margin of 15.7% — the lowest among the three top firms — while profit growth fell by 7% in rupee terms in FY23. TCS led the pack in revenue and profit growth, rising by 10% over the year in rupee terms.Infosys saw the highest growth in revenue, driven by its digital and cloud transformation deals done post-pandemic. However, for FY24, the 4-7% growth projection for FY24 is the company's lowest expansion forecast in six years. (Graphics & illustrations by Rahul Awasthi)

Source: Economic Times June 21, 2023 14:20 UTC