IT sector's AI-driven comeback: Infosys, LTI Mindtree report strong results
India's big IT players—Infosys and LTIMindtree—posted stronger-than-expected revenues for the quarter ending September 2024, while Wipro's results were more mixed.
What's fueling this comeback? Clients are pouring money into artificial intelligence (AI) and automation projects.
Even Tata Consultancy Services reported a good run recently, signaling that the sector is finally shaking off its slowdown.
Hiring is back for IT firms
Infosys posted a solid 13% jump in profit (₹7,364 crore) compared to the same quarter last year, and brought on 12,000 new hires in just six months—so demand is real.
LTIMindtree also did well: profits climbed 12% year-on-year with $1.18 billion in revenue, up 2.4% from last quarter.
Wipro's results were more mixed
Wipro had a tougher time, with revenue slipping 2.1% to $2.6 billion as demand stayed mixed.
Still, they pointed out that clients are moving from just testing out AI to actually rolling it out in real business.
A lot of this renewed energy is coming from banks and financial services pushing for digital upgrades.
A new wave of digital transformation is on the horizon
This bounce-back isn't just about numbers—it shows how global companies now see AI as key to working smarter.
For anyone eyeing tech careers or curious about where jobs and innovation are headed, India's IT scene is proving it's ready to ride the next wave of digital change.