Despite the layoffs announced by IT services and consulting major Accenture, the firm's Q2 results out-look came as a breather for the Indian IT services sector, which has been under cloud ever since the banking turmoil in the US and Europe, said analysts. The results of the firm were announced on Thursday.
Accenture's performance was evident among Indian IT stocks, which were up in the early hours of trading.
Nifty IT opened at 28,208, up 0.75 per cent over the previous close, touched a high of 28,454 (up 1.62 per cent), before closing at 27,936 (down 0.23 per cent).
Accenture, which follows a SeptemberAugust financial year, reported revenues of $15.81 billion for the second quarter.
This compares with $15.05 billion for the second quarter of FY22, an increase of 5 per cent.
New bookings for the quarter were at a record $22.1 billion. Consulting bookings stood at $10.7 billion and managed services bookings were at $11.4 billion.
This story is from the March 25, 2023 edition of Business Standard.
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This story is from the March 25, 2023 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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