Increased digital adoption and deal wins has helped the performance of the IT industry to bounce back in the July-September quarter. What has also benefited the margins of the top tier IT giants is the reduction of travel expenses of more than 70% year-on-year.
“Travel expenses have reduced significantly for large Indian service providers like TCS, Infosys and Wipro — from 2-3.5% of revenue throughout 2019 to 0.8-0.9% over the last two quarters, contributing to margins,” Everest Group director Prashant Shukla said.
