'SCAM' to make 2013 a promising year for Indian IT- BPO sector
Year 2012 was a mixed one for the top five IT services firms. While Tata Consultancy Services (TCS), HCL Technologies and Cognizant saw good growth, Infosys and Wipro lagged peers.
TCS and HCL Technologies have registered quarterly revenue growth 13 per cent and 17 per cent in dollar terms, while both Infosys and Wipro registered under 5 per cent
Also, Infosys slashed its revenue growth outlook to five per cent for FY2012-13 and suspended its practice of giving quarterly guidance, while Wipro hived off its non-IT
businesses like Consumer Care & Lighting into a new company to focus exclusively on IT.
Cognizant continued to give strong competition to its counterparts, pushing Infosys to the third spot in the top Indian IT services players tally with growth of over 20 per
Though it is not listed in India, Cognizant is often referred to as an Indian entity with three-fourth of its over 1.50 lakh employees being based here.
Overall, the companies remain confident of growth and opportunities in 2013. HCL Technologies Senior Corporate Vice President Shami Khorana said though the macro environment will continue to be challenging in 2013 with flat IT budgets, the outlook remains positive.
"We continue to maintain a positive outlook focussing energies on the US and Europe re-bid market," he said.
TCS CEO and MD N Chandrasekaran is also upbeat about the industry's growth. "When history looks back at this era, it will be remembered for the