Sep 30, 04:32 AM

Accenture's Q4 Profit Rises 22%, GenAI Bookings $1B, Boosts Indian IT Stocks

Accenture reported a 22% increase in Q4 profit, with GenAI bookings reaching $1 billion. The company saw a 3% rise in revenue in US dollar terms and 5% in local currency terms. Accenture also announced a share buyback and expects revenue growth between 3% and 6% in local currency terms for FY25. Additionally, the company experienced a 41% surge in outsourcing and reported an operating margin of 15%. New bookings for Q4 reached $20.1 billion. Following these results, Indian IT stocks, including TCS, Infosys, HCL Tech, and Wipro, saw gains, with some approaching their 52-week highs. The Nifty IT index rose 2%, and IT stocks were among the top gainers on the Nifty index. Accenture's positive outlook has led analysts to be cautiously optimistic about the Indian IT sector, suggesting reduced downside risks and potential for growth.