India’s fourth largest information technology outsourcing company HCL Technologies said on Tuesday that it expects a strong dollar to adversely impact its revenue in the second quarter ending December 2014.
“Looking at the performance and numbers of HCL and TCS in this quarter,Greyhound Research believes that the revenues for the October December quarter will be adversely affected for other IT companies as well. Also, US general elections, which were conducted in November, resulted in many companies going slow on projects. The banking industry in the US has been affected and the BFSI in the UK is also weak due to softness in insurance,” said Sanchit Vir Gogia, group CEO, Greyhound Research.
He added companies like TCS and Tech Mahindra that have high exposure to Europe and Japan will be adversely affected.
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