Slowing spend by telcos drags IBM India earnings; FY19 net down 12%

The company's net margin stood at 8.89% in FY19, compared with 9.88% in the year-ago period

IBM India continued to see subdued earnings growth for a second straight year as slowdown in the telecom segment affected its revenue and profit numbers in the financial year ended March 2019.

In FY19, IBM India's net profit declined by around 12 per cent on a year-on-year basis to Rs 2,426.40 crore, against Rs 2,755 crore in FY18, according to RoC filing accessed by business intelligence platform Tofler.

Its revenues from operations during the period dropped 2.85 per cent to Rs 26,542 crore, compared with Rs 27,323 crore last financial year.

Both profit and revenues came way below those in