Infosys, Wipro forecast to report muted results

Top tier IT firms, including Infosys, Wipro, TCS, and HCL Technologies, are expected to post a quarter-on-quarter revenue growth in the range of just 1.6-4.1% for the September quarter. The muted results are due to slowing spends in the BFSI and retail sectors. Analysts said the Q2 earnings season is likely to cement FY18 as a year that did not witness the expected uptick as spending from major verticals remains weak. Wipro’s quarterly results announcement is scheduled for 17 October while Infosys will release its results on 24 October. The Indian IT services industry has not witnessed strong growth in the last couple of quarters as the sector is going through technological shifts.