Q1 IT preview: Weak macros signal dull quarter for IT, firms may narrow guidance

India’s top four information technology firms are expected to post only a marginal increase sequentially in fiscal first-quarter revenue in constant currency, as weakness in the banking and financial services (BFS) sector and persistently high interest rates in Europe and the US will weigh on their results, analysts said.

Infosys and HCLTech may also trim the upper end of their revenue guidance range for the ongoing fiscal 2024, and the recovery predicted by the IT companies for the second half of the fiscal year is likely to be subdued, they said.