Software & Services
Software & Services
SECTOR | 28 Jun 2019
Prabhudas Lilladhar
Accenture impressed with strong revenue growth & margin expansion but weaker order bookings especially in Outsourcing (down 21.2% YoY) is negative for Indian IT sector. Overall bookings, book-to-bill ratio declined to 0.95x lowest in last 4 quarters, Consulting book-to-bill ratio stood at 0.96x vs 1.16x in last quarter & outsourcing book to bill ratio stood at 0.96x vs 1.08x last quarter. Accenture since last 3 quarters has shown lot of volatility due to macro uncertainty in its different parameters (like weak Q1FY19, strong Q2FY19, strong growth in outsourcing in Q2FY19, weak growth in Q3FY19...
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