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The Economic Times
The Economic Times
Technology
Shristi Achar

IT services giants in a bind as mid-caps soak up the revenue

Coforge Persistent Systems Phil Fersht Mphasis Peter BendorSamuel United States Everest Group LTM

Mid-tier IT services firms are outpacing larger rivals on growth, with companies such as Coforge, Persistent Systems, Mphasis, and LTM posting 7-28% year-on-year revenue increases in constant currency terms in the March quarter.

Large peers such as Infosys, HCLTech, and Tech Mahindra lagged in comparison, recording revenue growth of 0.6% to 3.9%, while Tata Consultancy Services and Wipro recorded revenue declines of 2.4% and 1.6%, respectively.

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