The size of the Indian IT industry is pegged at US $154 billion, including US $11 billion incremental revenues added in the previous fiscal, according to Nasscom
Infosys has slashed its annual revenue growth outlook for the second time this year to 8-9 percent, underlining the challenges faced by the IT industry especially in verticals like banking and financial services.
Preliminary figure for the third-quarter operating profit was revised down to 5.2 trillion won ($4.6 billion) from its initial estimate of 7.8 trillion won ($7 billion) unveiled last week
Infosys says will be in a better position by October to evaluate the impact of this on its earnings outlook for the current fiscal year
Infosys attrition rate was at 21 percent for the April-June quarter
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Longer sales cycle and weakness in outsourcing could impact growth for Indian IT companies
Infosys, the country's second largest software exporter, surprised with a better-than-expected net profit and dollar guidance for FY13.
Given that one of the biggest companies in the Indian IT space has lowered its revenue guidance, there's a very good chance Nasscom will be forced to lower its guidance as well.
The guidance for the first quarter of the current fiscal is only 2.2 percent, which means that the company will have to grow by nearly 7 percent in the remaining three quarters to meet its guidance.