Q1 result review: Outlook positive for IT companies, challenges persist

Weakness in demand evident, discretionary spends similar: IT majors

The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, “there is still some time for the industry to be firing on all cylinders.”

Among the majors—Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro—it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.

The impact of the results of the top player was evident on the Sensex as well. Benchmark indices notched up new record highs on July 18, with the benchmark Nifty nearing the 25,000 mark, boosted