The traditionally strong September quarter saw an unusual and unexpected slowdown in what seems like winter setting in a bit too early for the country’s top IT services companies. The December quarter is usually the weakest for the companies, with long Christmas holidays and furloughs affecting quarterly performance.
Sanchit Vir Gogia, chief analyst & CEO of Greyhound Research, noted, “With a sequential growth of 1.8% q-o-q, we believe that this quarter has been poor and far from industry standards. Their business continues to be a well balanced portfolio between infrastructure and application services, but BPO, product engineering and ADM continue to decline. While Wipro continues to have strong focus on cloud services, they need to increase their focus on cloud-delivered managed services. The Americas segment recorded a sequential growth of 4.2% though Europe showed a decline of 4.3%. Kurien said the European market continues to remain challenging with few of their clients cutting down on their discretionary spending.
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