The numbers for most IT companies are out for the quarter ended Sep 30. Infosys though reported numbers with optimism for the future, other major IT companies such as TCS, HCL, NIIT, MindTree and others have sparked a hope in the industry that good times are back. The results of these companies have encouraged the analysts to forecast good year ahead.
Today, HCL Technologies reported 64% rise in profits, far from its expectations. A few days back NIIT Tech had reported good numbers. The factor which strengthens the hopes is that these companies have reduced the burden on the US market, though it accounts majorly still on their balance sheet. Talking to NIIT Technologies on the day of the press briefing, The Data Driver learnt that their revenues come majorly from the transport sector rather than financial services which is otherwise still largest to companies like TCS, Infosys, etc.
These trends are a silver lining in the cloud. Plus, the European market has opened up quite a bit that has helped the services majors to boost their revenues. In addition, companies such as Zensar, Genpact have successfully explored business avenues in the middle-east and Africa, as part of the diversification process that will help sustain their growth model for a long time.
Not to mention, it depends on these companies as to how they chalk out their business plan so that they could reduce their dependency on the US clients and get contracts from clients in the EU, UK, China, Japan and APAC.
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