Mid and small IT companies showed sustained improvement in revenue, profit share in March ’24 quarter

Small and medium sized IT companies continued to show year-on-year improvement in the share of aggregate revenue and profit of the sector in the March 2024 quarter though the extent of improvement has tapered down implying resilience from the top tier companies. In addition, the non-top tier set of companies reported more than 100 basis point year-on-year expansion in the operating margin (EBIT margin) for the second consecutive quarter.The