Q2FY25 Review: IT sector saw moderate deal wins, weak second half outlook, says JM Financial

The IT sector, during the fiscal second quarter, reported in-line operating performance, moderate deal wins and a weak second half outlook. While last year’s record deal wins have supported H1Y25 growth, stable leakages have helped too, though sporadic instances of ramp-downs still linger, stated a report by JM Financial. “FY24’s deal revenues in the base and FY25 deal TCV (FYTD) reverting to historical trend however preclude hopes of growth acceleration. Not surprisingly, most available guidance for H2 underwhelmed,” it said.