Topics In Demand
Notification
New

No notification found.

Quarterly Industry Review –September 2023

September 11, 2023 338 0 nasscom insights

Quarterly Industry Review –September 2023

Analysis of the Technology industry performance during the quarter ending June 2023. This analysis is based on the quarterly financial results declared by the top listed Technology companies. The report covers a brief analysis on the performance of Indian technology companies, pure-play BPM companies, pure-play ER&D companies, Global tech companies and Start-ups.


Listen to this article



Key Highlights

  • Global Economy and Technology Spending
    • Global GDP is expected to increase by 3% in 2023 (0.2% higher than April estimates) and projected to grow by 3% in 2024.
    • As of July 2023, global technology spend growth is expected to witness a y-o-y increase of 10.6% in 2023, higher as compared to 10.3% (as of April 2023).

 

  • Indian Technology Industry Performance
    • Revenues grew 0.2% q-o-q and 4.4% y-o-y in reported currency terms.
    • EMEA and North America remained stable. Growth in Manufacturing and Emerging verticals were the only positive note this quarter.
    • Headcount reduced by 1.5% q-o-q due to near-term weakness in demand while attrition reduced further.
    • Segments:
      • Pure-play BPM revenues grew at +1.3% q-o-q, while margins took a slight dip.
      • Pure-play ER&D revenues grew +4% q-o-q with net margins at 13.8% this quarter.

 

  • Global Technology Companies Trends
    • Revenues for select set of global companies increased by 1.7% q-o-q and 6.3% y-o-y.
    • The employee base witnessed a decline of 1.6% q-o-q.

 

  • Start-up Trends
  • Revenues grew by 4% q-o-q and 37.1% y-o-y.
  • Listed firms continue to stabilize losses with improved operational efficiency.

Find the full report at NASSCOM Website.

 

Community by nasscom Insights is focused on building the largest online community catering to the Indian technology sector. The purpose of the community is to bring the latest trends and discussions onto a single platform. Our passion for tech drives the free-flowing exchange of ideas and visions from industry leaders and game-changers across India.



LATEST REPORTS

© Copyright nasscom. All Rights Reserved.