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Information Technology

Coronavirus impact: Indian IT to see massive hit on margins, utilisation; new contracts worth $3 billion delayed

Updated : March 17, 2020 09:31 PM IST

Sources in Indian IT companies confirmed that new contracts worth up to $3 billion have been postponed by clients due to the disruption caused by the coronavirus fears.
All companies indicated that Q3FY20 (January 2020 to March 2020) and Q1FY21 (April 2020 to June 2020) will see the effect of Covid-19 on earnings.
Sources told CNBC-TV18 that the impact on margins will be anywhere from 2 percent to even 5 percent for some companies.

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