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IT companies likely to see weakest revenue growth in a decade

covid-19 information economy crisis
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Bengaluru: Information technology (IT) companies may see their weakest revenue growth in a decade as clients cut down discretionary spending and demand slows down across sectors.

The current uncertainty and a possibly bleak outlook are evident as both Infosys Ltd and Wipro Ltd have refrained from providing revenue growth guidance for FY21 and the June quarter, citing lack of visibility due to the impact of covid-19.

Cognizant Technology Solutions Corp. has also withdrawn its full-year revenue growth guidance of 2-4% in constant currency terms.

According to rating agency Crisil, revenue pressure in the IT services industry will intensify in 2020-21 due to the impact of covid-19, “crimping growth to a decadal low of 0-2%, surpassing even the

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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