By , ET BureauLast Updated: Jun 18, 2025, 06:25:00 AM IST

, including Coforge, Hexaware, and Persistent Systems. The tier-II companies have been reporting higher revenue and profit growth year-on-year over the past several quarters compared with the larger peers led by the shifting focus of clients to short term projects from larger multi-year transformational deals. The top 5 IT exporters include TCS, Infosys, HCL, Wipro and Tech Mahindra ranked based on annual revenues. Sample of tier-II companies include 79 mid and small tier IT companies.The top-tier companies have also reported lower share of net profit over the recent few quarters. In June quarter, it fell to 86.3% from 87.3% in year-ago quarter. The mid and small tier companies have gained lead over top companies in revenue and profit. "Select large and mid-tier companies are gaining share as opposed to the usual narrative of large companies consolidating out smaller ones," mentioned Kotak Securities in a sector report.

Global clients of Indian IT exporters have been cautiously assessing the geopolitical scenario, which has delayed their decision making process over the past few quarters, and in turn affecting the project ramp ups.

The sample of mid and small IT companies reported better revenue growth than top-tier companies in each of 15 quarters to March 2025. Their net profit growth was higher in 12 out of past 17 quarters since March 2021.