Mid-caps in IT service sector show strong growth in digital business in Q4

Mid-caps in the information technology (IT) service sector had a sweet run in the March quarter of FY18 with most of these managing to deliver better-than-expected numbers backed by strong growth in their digital business and a robust deal pipeline.

The likes of Persistent, Zensar and Larsen & Toubro Infotech (LTI) saw digital deals bringing in maximum momentum. 

LTI posted 42 per cent year-on-year (y-o-y) growth of their digital business while Zensar (despite some drag from legacy services) had shown strong digital penetration among its top 20 clients. Bengaluru-based midsize IT firm Mindtree had 45 per cent of its total