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Why IT cos skip full-year forecast, set lofty goals
Mint Mumbai
|November 29, 2024
IT services firms aim for big revenue growth, but investors stay cautious
Information technology (IT) services companies including LTIMindtree Ltd, Coforge Ltd, Sonata Software Ltd, and Happiest Minds Technologies Ltd do not typically provide full-year revenue guidance, but that has not stopped them from setting aspirational revenue goals. Analysts say such targets are aimed at investors.
LTIMindtree on Tuesday outlined one such aspiration in its interaction with analysts and investors: to more than double its revenue to $10 billion in the next eight years through March 2032.
However, investors are unenthused. LTIMindtree shares closed 1.05% lower two days after the announcement was made, ending Thursday at ₹6,158 apiece. The BSE Sensex dropped 1.2% during this period, settling at 79,043.74 points on Thursday. India's sixth-largest IT services provider ended March 2024 with $4.3 billion in yearly revenue, up 4.4% from the previous fiscal.
Esta historia es de la edición November 29, 2024 de Mint Mumbai.
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