IT services sector’s revenue growth to slow down: Report

Indian IT services sector may have some bad news in store for the coming days. A domestic ratings company named Icra has predicted, as per a report by PTI, that the Indian IT services sector’s revenue growth will slow down in the current fiscal year. In the previous financial year, the country’s IT services sectors grew by 9.2%. The report has predicted that the revenue growth will slow down to 3% in the current fiscal year.

As per the report, the profitability in the Indian IT services sector will also take a beating in this financial year. Moreover, the operating profit margin is also expected to reduce by up to 1% to 20-21%, the report added.