Major Indian IT firms have trimmed their revenue growth guidance as companies lack visibility of the demand environment with macroeconomic conditions remaining uncertain. In Q2, Infosys trimmed its annual guidance from 1-3.5 per cent to 1-2.5 per cent after a deep slash in the previous quarter as well. Companies have reduced revenue growth guidance as revenue growth is moving on a slower momentum with deal bookings not immediately translating to revenues and discretionary spending not picking up. L&T Tech Services reduced guidance from 20 per cent to 17.5-18.5 per cent, as it sees continued caution in the market and decision-making remains slow. Previously it has guided 25 per cent revenue growth for the year, without making a distinction between organic and inorganic growth.

Source: The Hindu October 25, 2023 00:28 UTC