Mid-tier IT firms scale back client additions to prioritise margins

Several mid-tier information technology (IT) companies are scaling back on client additions as they shift focus towards prioritising margins amid continued weakness in discretionary spending. This marks a significant shift from the aggressive client acquisition that was previously employed to boost revenues.

Data from recent quarters highlight a noticeable reduction in client additions across notable mid-tier IT firms such as Cyient, Mphasis and Coforge.