Points of View

HCL Hurdles Wipro into 4th Place – but for How Long with the Alight Deal?

Perhaps, given the tumultuous past few years that the major Indian outsourcers have just been through, rally racing would be a better analogy than Formula 1. But, if we’re to pause for a second and take a look at revenues over the last three years, we’ll see that HCL has been steadily gaining on Wipro for fourth place in the “who earns the most money” Grand Prix and managed to sneak finally into the fourth spot in Q2 2018.


Let’s take a look at the overall IT services provider podium before we dig into the details of the TWITCH (TCS, Wipro, Infosys, Tech Mahindra, Cognizant and HCL) race. Exhibit 1 shows that little has changed at the top over the past few years. Despite a lengthy period of revenue decline, IBM still holds pole position. It’s anyone’s guess for how long—even though the firm has finally posted revenue growth, it may not be enough to stave off the consistent and steady rise of Accenture. If Accenture keeps on acquiring so voraciously, first place may become a real possibility. Quite far back in third place is TCS, but don’t underestimate this firm in the race. TCS has been posting steady growth that could see it cross over the $20 billion annual revenue mark by the end of 2018.


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