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Strong order book, high attrition: What Accenture's Q3 means for Indian IT

Accenture Q3 results: Strong outlook and robust bookings reflect the secular nature of demand for IT services in the near-term, though medium-term risks persist, said analysts

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Accenture's attrition levels rose by 200 bps to 20 per cent (partly seasonality) due to higher attrition in India, implying that labor markets remain tight, highlighted Jefferies

Nikita Vashisht New Delhi
Despite a healthy March-May quarter (Q3FY22) show by global IT consulting firm Accenture, Indian IT companies shed up to 3 per cent on the National Stock Exchange (NSE) on Friday as analysts continued to highlight medium-term pain points for the sector.

The Nifty IT index settled 0.9 per cent lower on Friday, as against a 0.9 per cent rise in the Nifty50 index.
According to analysts at ICICI Securities, Accenture’s Q3 saw moderation in year-on-year growth rate across verticals and US regions, which signals at likely normalization in revenue momentum for Indian IT services going forward.

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First Published: Jun 24 2022 | 11:39 AM IST

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