India's second-largest IT services firm on Thursday said it expects revenue growth of 4%-7% for the fiscal year ending March 2024, well below analysts' expectations of 10.7% growth, as clients clamped down or deferred spending due to growing fears of a recession in many countries.

The Bengaluru- based company's net profit of 61.28 billion rupees ($748.21 million) in the January-March quarter also missed analysts' expectations of 66.24 billion rupees, according to Refinitiv IBES.

The Nifty IT index dropped over 6%.

($1 = 81.9020 Indian rupees)

(Reporting by Nishit Navin; editing by Eileen Soreng)