Sector analysis · India
IT sector earnings growth, Q2 FY24
The 20 largest Information Technology companies by market cap at the end of Q2 FY24 (30 Sep 2023), compared with Q1 FY24.
The top 20 at Q2 FY24
Q2 FY24 vs Q1 FY24: combined net profit ₹28,368 cr (+2%), median EPS +4% (15 of 20 up), market-cap-weighted price +7%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Tata Consultancy Services Limited | 41.6% | 30.26 → 31.00 | +2% | +1.0 pp | +7% |
| 2 | Infosys | 19.2% | 14.32 → 14.97 | +5% | +1.0 pp | +7% |
| 3 | HCL Technologies Limited | 10.8% | 13.02 → 14.12 | +8% | +1.1 pp | +4% |
| 4 | Wipro Limited | 6.8% | 2.61 → 2.53 | −3% | −0.8 pp | +4% |
| 5 | LTM Limited | 5.0% | 38.92 → 39.26 | +1% | 0.0 pp | 0% |
| 6 | Tech Mahindra Limited | 3.8% | 7.10 → 5.06 | −29% | −0.7 pp | +8% |
| 7 | L&T Technology Services Limited | 1.6% | 29.44 → 29.84 | +1% | 0.0 pp | +16% |
| 8 | Tata Elxsi | 1.4% | 30.32 → 32.12 | +6% | 0.0 pp | −5% |
| 9 | MphasiS Limited | 1.4% | 21.00 → 20.78 | −1% | 0.0 pp | +25% |
| 10 | Persistent Systems Limited | 1.4% | 14.87 → 17.11 | +15% | +0.1 pp | +16% |
| 11 | Oracle Financial Services Software Limited | 1.1% | 57.92 → 48.20 | −17% | −0.3 pp | +7% |
| 12 | KPIT Technologies Limited | 1.0% | 4.89 → 5.14 | +5% | 0.0 pp | +6% |
| 13 | Coforge Limited | 1.0% | 5.41 → 6.11 | +13% | +0.1 pp | +8% |
| 14 | Sonata Software Limited | 1.0% | 4.28 → 4.43 | +4% | 0.0 pp | +5% |
| 15 | Cyient Limited | 0.6% | 15.20 → 16.10 | +6% | 0.0 pp | +13% |
| 16 | Affle 3i | 0.5% | 4.97 → 5.01 | +1% | 0.0 pp | +1% |
| 17 | Tanla Platforms Limited | 0.4% | 10.07 → 10.60 | +5% | 0.0 pp | +1% |
| 18 | Happiest Minds Technologies Limited | 0.4% | 3.97 → 3.84 | −3% | 0.0 pp | −11% |
| 19 | Birlasoft Ltd | 0.4% | 5.00 → 5.26 | +5% | 0.0 pp | +35% |
| 20 | Newgen Software Technologies Limited | 0.4% | 2.15 → 3.42 | +59% | +0.1 pp | +33% |
| Sector earnings growth | 100% | +1.6 pp |
Who joined and who left
0 joined and 0 left the top 20 since the previous quarter, as market caps moved.
Joined the top 20 since the previous quarter
Left the top 20 since the previous quarter
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth quarter on quarter, every quarter it was in the top 20.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TCS | +2% | −1% | +12% | −3% | −1% | +4% | −1% | +4% | −5% | −12% | +29% | −3% |
| INFY | +5% | −2% | +31% | −20% | +2% | +5% | +3% | −2% | +6% | −7% | +28% | −9% |
| HCLTECH | +8% | +14% | −8% | +7% | −1% | +8% | −6% | −11% | +10% | −4% | +10% | +3% |
| WIPRO | −3% | +2% | +5% | +6% | +7% | +4% | +7% | −7% | −3% | −4% | +12% | +1% |
| LTM | +1% | +1% | −6% | +3% | +10% | −13% | +4% | +11% | +12% | −31% | +43% | +5% |
| TECHM | −29% | +3% | +29% | +32% | +43% | −21% | +19% | −2% | +5% | −6% | +21% | +8% |
| LTTS | +1% | +7% | +1% | −8% | +2% | +1% | −4% | +1% | +4% | −8% | +10% | +7% |
| TATAELXSI | +6% | +3% | −5% | −7% | +25% | −13% | −13% | −16% | +7% | −30% | +102% | −23% |
| MPHASIS | −1% | −5% | +5% | +3% | +5% | +1% | +4% | −1% | +6% | −6% | +15% | −4% |
| PERSISTENT | +15% | +9% | +10% | −3% | +5% | +15% | +6% | +7% | +11% | −8% | +20% | −9% |
| OFSS | −17% | +77% | −24% | +10% | −6% | −6% | +19% | 0% | −15% | +12% | +38% | +68% |
| KPITTECH | +5% | +10% | +6% | +24% | 0% | −8% | +31% | −30% | −2% | −21% | +22% | −28% |
| COFORGE | +13% | +36% | −13% | −45% | +52% | +6% | +21% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| SONATSOFTW | +4% | to loss | turned profitable | −4% | +1% | outside | outside | outside | outside | outside | outside | outside |
| CYIENT | +6% | −18% | +28% | −24% | +24% | −32% | outside | outside | outside | outside | outside | outside |
| AFFLE | +1% | +9% | +14% | −1% | +6% | +9% | +3% | +2% | +5% | +8% | 0% | +7% |
| TANLA | +5% | −2% | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| HAPPSTMNDS | −3% | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside | outside |
| BSOFT | +5% | +11% | +12% | −17% | −15% | outside | outside | outside | outside | outside | outside | outside |
| NEWGEN | +59% | +43% | outside | outside | +48% | +27% | +21% | −54% | outside | outside | outside | outside |