October 28, 2021

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Infosys, Wipro, Mindtree Q2 Review

2 min read

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Infosys Ltd.’s revenue was largely in-line, but Wipro Ltd. and Mindtree Ltd. surprised – the latter was also aided by the one-time unlock of physical retail in UK.

While Wipro’s growth was relatively broad based, Infosys and Mindtree were more concentrated within a few verticals.

Lukewarm growth in key verticals like financial services, retail for Infosys, Wipro and revenue stagnancy in top account for Mindtree were noteworthy trends.

Despite partial wage hikes and supply side cost pressures, all three companies reported impressive margin defence.

Further shift of effort mix towards offshore and step up in utilisation helped, a trend which is unlikely to sustain as travel, office resumes.

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Usha Kunji
2021-10-14 04:37:52

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