AI pressure, client caution cloud Indian IT earnings in September quarter
India’s top IT companies are set to report another quarter of weak earnings and could trim their annual revenue growth forecasts, five brokerages said, as AI-driven pricing pressure and tepid spending by clients bite.
The rise of AI-based technology has battered the $315-billion information technology sector, especially vulnerable because of its reliance on billable hours, forcing companies to rejig business models and offer steep discounts. The sector has been among the market’s worst performers over the past year.
