What Accenture's Q4 Result Means For Indian IT Companies: Axis Securities

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Axis Securities Report.Accenture Plc’s reported Q4 FY24 results stood in line with street expectations on all financial and operational terms. Revenue for the quarter stood at $16.4 billion, registering a growth of 3% (in US$ terms) and 5% (in local currency) on a YoY basis. The company registered GAAP EPS of $2.66 for the quarter while adjusted EPS stood at $2.79, reporting 3% YoY growth. The company’s new bookings stood at $20 billion, managed services book/bill was at $11.6 billion, and consulting business bookings stood at $8.3 billion. Overall Q4 FY24 bookings have been resilient, indicating robust demand despite prevailing uncertainties. The company has robust client relationships, which is reflected in the top 30 clients with quarterly bookings of ~ $100 million. The company continues to witness strong demand for Gen AI – the great accelerator of reinvention – with over $1 billion in new bookings..Impact on Indian IT Services Companies We believe strong investments in new-edge technologies such as Digital Technologies, Cloud Transformation, IoT, Generative AI, and Machine Learning across verticals will support and accelerate the company’s revenue growth moving forward. However, near-term macroeconomic headwinds may impact the automation spend across verticals. On a vertical front, the BFSI vertical witnessed a stronger impact due to a fall in the rural banking sector from North America. On the other hand, industries including manufacturing, automobile, retail, pharmaceutical, and healthcare are witnessing strong traction across geographies. IT services companies in India are receiving strong deal bookings despite near-term challenges. While we remain optimistic about the long-term prospects of IT services companies in India, near-term challenges may impact their earnings growth momentum..Click on the attachment to read the full report:.IT Services Update - Strong Momentum In Outsourcing Is A Positive For Indian Peers: PL Capital.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

What Accenture's Q4 Result Means For Indian IT Companies: Axis Securities

The brokerage believes strong investments in new-edge technologies and machine learning across verticals will support and accelerate the company’s revenue growth moving forward.

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What Accenture's Q4 Result Means For Indian IT Companies: Axis Securities

The brokerage believes strong investments in new-edge technologies and machine learning across verticals will support and accelerate the company’s revenue growth moving forward.

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