New Delhi: The IT giant Infosys is set to declare its fourth Quarter results earnings on Friday. While analysts expect muted growth, the earnings season for Indian IT firms comes amid improving macro-economic stability in the US and European markets.
Worldwide IT spending is forecast to increase 2.5 per cent in 2012 from a year ago, research firm Gartner Inc. said on Apr 5, lower than its January forecast of 3.7 per cent growth. The cut in forecast is due to a strong US dollar, it said.
Tata Consultancy, Infosys and No 3 exporter Wipro are also facing increased competition from bigger global rivals such as IBM and Accenture for a bigger share of the outsourcing business.
The competition for the leading Indian software companies is likely to intensify after smaller rival Tech Mahindra last month bought the remaining stake in unit Mahindra Satyam, becoming India's No 5 software exporter by revenue.
Infosys, which is also listed on the Nasdaq stock exchange, is expected to post a 27.5 per cent rise in profit in the quarter ended March to 23.18 billion rupees, according to Thomson Reuters data.
With additional information from Reuters