IT services company Tech Mahindra is likely to see muted revenue growth in the first quarter ended June 2024, impacted by seasonal weakness. Meanwhile, sequential revenue growth is seen anywhere between 0.3-0.9 per cent. Financial services group Nomura said in its quarterly preview, “We expect CC growth of 0.5 per cent quarter-on-quarter. EBIT margins to expand by 100 bps quarter-on-quarter.”Meanwhile, Motilal Oswal noted, “Revenue growth is expected to be muted at 0.4 per cent quarter-on-quarter CC; while the communications vertical has bottomed out, recovery could take longer. Prabhudas Lilladher said, “We expect revenue growth (0.3 per cent CC quarter-on-quarter) to be impacted by seasonality in Comviva business, otherwise the enterprise business is expected to outpace the growth of the communication business.

Source: The Hindu July 25, 2024 17:36 UTC