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IT sector revenue growth may hit decadal low due to COVID-19: Crisil

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MUMBAI : The Indian IT sector is staring at a revenue growth sliding to a decadal low of up to 2% and an impact on profitability owing to narrowing of margins due to the COVID-19 pandemic, a report said on Friday.

The companies will lose out on new deals, which will compromise future revenues, and also face reverses on the existing ones, which may be renegotiated as their overseas clients face difficulties due to the lockdowns, domestic rating agency Crisil said in the report.

The $97 billion IT sector is one of the largest service exporters and helps the economy also by supporting over 40 lakh jobs if the IT-enabled services are also included.

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COVID-19
United States
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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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