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Shorter furloughs, weak Rupee may aid IT firms' Q3 margins
Financial Express Chennai
|December 14, 2024
Shorter furloughs than last year, when they were extended due to soft demand scenario, coupled with depreciating rupee, are expected to protect the margins of IT firms during the October-December period, which is otherwise seen as a weaker quarter.
Last year furloughs were extended because discretionary spends were weak, leading to a soft demand scenario. However, IT firms are saying that this year the span is going to be normal. Further, rupee depreciation will act as a tailwind to margins between 30-50 bps," an analyst from a domestic broking firm said.
This story is from the December 14, 2024 edition of Financial Express Chennai.
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