The IT providers firm follows a September-August monetary yr.
Accenture’s efficiency and income steering is often seen as a barometer for the efficiency of Indian expertise firms. A optimistic outlook is due to this fact anticipated within the upcoming earnings interval for
, , , HCL Applied sciences and Tech Mahindra.
Accenture reported revenues of $13.26 billion within the quarter to Might, a development of 21% over the year-ago interval. It had forecast income within the vary of $12.55 billion-$12.95 billion. The corporate’s working earnings rose 24% year-on-year to $2.1 billion, whereas the working margin was at 16%, an growth of 40 foundation factors.
The expansion got here on the again of a spurt in new deal bookings, reflecting the market urge for food for giant expertise transformation and cloud-based offers. New deal bookings for the third quarter have been at $15.4 billion, a 39% improve from the corresponding interval final yr. The rise in offers is an encouraging signal for Indian companies, in response to analysts.
“Accenture has reported robust efficiency for Q3FY21 beating its steering and has raised its FY21 steering. We consider that it’s a very optimistic read-through for Indian IT firms,” Urmil Shah, analyst at Haitong Securities, mentioned in a notice.
Consulting revenues for the quarter stood at $7.26 billion, a 21% improve in US greenback phrases and 16% in native foreign money in contrast with the third quarter of fiscal yr 2020. Outsourcing income stood at $6 billion, a rise of 20% in greenback phrases and 16% in native foreign money.
With respect to deal bookings, consulting bookings have been $8 billion, a 30% improve from the third quarter final yr, whereas outsourcing bookings have been $7.4 billion, a 52% improve from the identical interval final fiscal yr.
“We’re significantly happy with our skill to proceed to take a position considerably in our enterprise and our individuals,” Accenture’s Chief Government Officer Julie Candy mentioned after the outcomes. “This contains acquisitions of 39 revolutionary firms that we now have introduced for the fiscal yr up to now, bringing us scale and new or expanded capabilities.”
“To proceed to supply vibrant profession paths, we now have promoted a file 117,000 individuals, together with nearly 1,200 managing administrators to date this fiscal yr…,” she mentioned.
