Purpose. Comparative studies of Indian IT services firms mostly report levels of revenue, profit and ratios. Fewer ask how revenue growth is converted into reported profit growth. This study examines how revenue growth and margin change jointly account for year-to-year changes in profit after tax (PAT), and how much of the dispersion in PAT margins is firm-specific. Design. Descriptive and exploratory analysis of consolidated revenue from operations and PAT attributable to owners for six large listed firms (TCS, Infosys, HCLTech, Wipro, Tech Mahindra, LTIMindtree) for FY2023–FY2025: 18 firm-years and 12 growth observations. An exact log decomposition separates a revenue component from a margin component. Findings. Revenue growth was modest (mean 3.9% in FY2024 and 4.5% in FY2025), whereas PAT growth ranged from −51.2% to +80.3%. The margin component exceeded the revenue component in four of twelve firm-years, all at Wipro and Tech Mahindra. No monotonic association between revenue growth and PAT growth was detectable (Spearman ρ = 0.09, n = 12; permutation p = 0.77; bootstrap 95% interval −0.29 to 0.52), although power is low. About 92% of the variance in PAT margin lay between firms. A sensitivity check shows that unverified secondary figures would have changed the FY2024 PAT-growth ranking materially. Limitations. Purposive sample, three fiscal years, secondary data, no cost-line or exceptional-item adjustment. Contribution. A verified, provenance-documented dataset and a transparent decomposition that separates scale effects from margin effects, with explicit limits on inference.

Keywords: Indian IT services; profit growth decomposition; PAT margin; comparative financial analysis; financial data verification. JEL: G30, L86, M41.