Covid-19 likely to hit IT firms’ order books

Global IT and outsourcing giants Infosys and Tata Consultancy Services (TCS) have booked strong performance in the nine months to December, but analysts have begun flagging risks to IT companies due to Covid-19.

Infosys reported a 56% jump in large deal wins in the nine months to December while TCS booked contracts worth US$6bn in the banking, financial services, and insurance (BFSI) business vertical.

Companies are still assessing the impact of the virus disruption but analysts said it will surely affect operations and therefore finances. One analyst said that if the virus disruption lasts longer, clients will be forced to think about reducing their IT spend.

Read more here.

Shares