ET Explainer: Should Indian IT companies be concerned about Accenture’s Q2 guidance?

Does Accenture’s first quarter performance and guidance for the second quarter announced Tuesday bode well for Indian IT companies? Not really! Going by the management’s commentary, green shoots are visible but timelines will vary much like the visibility on its deal pipelines. Reports also suggest that the current green shoots in the IT spending ecosystem will not have any material impact on Indian IT’s fiscal 2024 guidance and that the technology spend cycle will only recover post-June 2024, which may benefit revenue growth only in fiscal 2025. Here’s what we know: