The Indian information technology (IT) services market saw further growth in the fourth quarter of the financial year 2013-2014. However, the growth was slower than the 3Q, which is usually a slow quarter due to more holidays in the US and Europe. Overall, FY14 was better than FY13 for various reasons including the fluctuating value of the rupee and recovery in Europe. The report discusses the financial results of the top twenty India-based IT companies listed on the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), or both. ARC experts believe this provides a representative sample of the Indian IT market.
The suppliers included in this report recorded combined quarterly revenue of over $10 billion, representing 12 percent year-over-year growth rate. Just five out of 20 companies reported year-over-year decreases in revenues, while the rest all showed growth in the 4Q.