Sector analysis · India
IT sector earnings growth, Q2 FY25
The 20 largest Information Technology companies by market cap at the end of Q2 FY25 (30 Sep 2024), compared with Q2 FY24.
The top 20 at Q2 FY25
Q2 FY25 vs Q2 FY24: combined net profit ₹31,529 cr (+11%), median EPS +8% (15 of 20 up), market-cap-weighted price +29%. 20 of 20 reported.
| # | Company | Weight | EPS ₹, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Tata Consultancy Services Limited | 38.4% | 31.00 → 32.92 | +6% | +2.0 pp | +21% |
| 2 | Infosys | 19.3% | 14.97 → 15.67 | +5% | +1.0 pp | +31% |
| 3 | HCL Technologies Limited | 12.1% | 14.12 → 15.61 | +11% | +1.4 pp | +45% |
| 4 | Wipro Limited | 7.0% | 2.53 → 3.07 | +21% | +2.0 pp | +33% |
| 5 | LTM Limited | 4.6% | 39.26 → 42.24 | +8% | +0.3 pp | +20% |
| 6 | Tech Mahindra Limited | 3.8% | 5.06 → 12.78 | +153% | +2.7 pp | +29% |
| 7 | Oracle Financial Services Software Limited | 2.5% | 48.20 → 66.60 | +38% | +0.6 pp | +179% |
| 8 | Persistent Systems Limited | 2.1% | 17.11 → 20.85 | +22% | +0.2 pp | +88% |
| 9 | MphasiS Limited | 1.4% | 20.78 → 22.37 | +8% | +0.1 pp | +27% |
| 10 | L&T Technology Services Limited | 1.4% | 29.84 → 30.20 | +1% | 0.0 pp | +17% |
| 11 | Tata Elxsi | 1.2% | 32.12 → 36.84 | +15% | +0.1 pp | +7% |
| 12 | Coforge Limited | 1.2% | 6.11 → 6.06 | −1% | +0.1 pp | +38% |
| 13 | Tata Technologies Limited | 1.1% | 3.95 → 3.88 | −2% | 0.0 pp | — |
| 14 | KPIT Technologies Limited | 1.1% | 5.14 → 7.43 | +45% | +0.2 pp | +41% |
| 15 | Affle 3i | 0.6% | 5.01 → 6.56 | +31% | +0.1 pp | +44% |
| 16 | Cyient Limited | 0.5% | 16.10 → 16.14 | 0% | 0.0 pp | +11% |
| 17 | Newgen Software Technologies Limited | 0.5% | 3.42 → 5.01 | +46% | +0.1 pp | +49% |
| 18 | Sonata Software Limited | 0.4% | 4.43 → 3.80 | −14% | −0.1 pp | −40% |
| 19 | Birlasoft Ltd | 0.4% | 5.26 → 4.61 | −12% | −0.1 pp | +25% |
| 20 | Zensar Technologies Limited | 0.4% | 7.68 → 6.86 | −11% | −0.1 pp | +31% |
| Sector earnings growth | 100% | +10.6 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q1 FY25, as market caps moved.
Joined the top 20 since Q1 FY25
Left the top 20 since Q1 FY25
- Intellect Design Arena Limited
EPS growth by company, Q2 FY24 to Q1 FY27
Each company's EPS growth year on year, 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 | +9% | +3% | +10% | +10% | +6% | +12% | −2% | +6% | +1% | −14% | +12% | +5% |
| INFY | +5% | −6% | +30% | +7% | +5% | +11% | −12% | +9% | +13% | 0% | +24% | +15% |
| HCLTECH | +10% | +6% | 0% | +21% | +11% | +6% | +8% | −10% | 0% | −11% | +4% | +20% |
| WIPRO | +5% | −7% | −3% | +10% | +21% | +24% | +26% | +11% | +1% | −7% | −2% | +6% |
| LTM | +1% | +17% | −1% | −2% | +8% | −7% | +3% | +11% | +12% | −11% | +23% | +17% |
| TECHM | −62% | −61% | −41% | +26% | +153% | +92% | +76% | +30% | −5% | +14% | +16% | +28% |
| OFSS | +5% | +69% | +16% | +23% | +38% | −27% | +15% | +4% | −6% | +12% | +30% | +120% |
| PERSISTENT | +19% | +19% | +24% | +34% | +22% | +29% | +24% | +37% | +45% | +16% | +32% | +13% |
| MPHASIS | −7% | −10% | −3% | +2% | +8% | +14% | +13% | +9% | +10% | +3% | +14% | +10% |
| LTTS | +12% | +11% | +10% | +1% | +1% | −4% | −9% | +1% | +3% | −6% | +7% | +13% |
| TATAELXSI | +15% | +6% | −2% | −3% | +15% | −4% | −12% | −22% | −33% | −45% | +28% | +18% |
| COFORGE | sources disagree | sources disagree | sources disagree | −26% | −1% | −22% | +8% | sources disagree | sources disagree | sources disagree | sources disagree | sources disagree |
| TATATECH | outside | +15% | −27% | −15% | −2% | −1% | +20% | +5% | +5% | −96% | +8% | +6% |
| KPITTECH | +69% | +54% | +47% | +52% | +45% | +20% | +49% | −16% | −17% | −29% | −33% | −32% |
| AFFLE | +14% | +6% | +33% | +24% | +31% | +30% | +18% | +22% | +20% | +19% | +16% | +21% |
| CYIENT | +125% | −6% | +16% | −15% | 0% | −17% | outside | outside | outside | outside | outside | outside |
| NEWGEN | +58% | +41% | outside | outside | +46% | +30% | +2% | +4% | outside | outside | outside | outside |
| SONATSOFTW | +10% | to loss | −3% | −12% | −14% | outside | outside | outside | outside | outside | outside | outside |
| BSOFT | +24% | turned profitable | +60% | +9% | −12% | outside | outside | outside | outside | outside | outside | outside |
| ZENSARTECH | outside | outside | +45% | +1% | −11% | −1% | +2% | +15% | +17% | +25% | outside | outside |