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. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.