The Indian rupee's significant depreciation against the U.S. dollar is anticipated to provide a revenue boost of 10-60 basis points for IT services companies in the fourth quarter of the fiscal year. This comes as the rupee lost 10% of its value against the dollar in the previous fiscal year, driven by foreign institutional investor outflows and rising crude oil prices. Brokerages predict a 3.0-3.5% depreciation in the currency for Q4, which will particularly benefit companies that earn over 60% of their revenue from the U.S. market. Major firms like Tata Consultancy Services, Infosys, HCLTech, Wipro, and Tech Mahindra are expected to see a 10-50 basis point boost, while smaller companies like Zensar and Cyient could gain 80-90 basis points. Despite these currency tailwinds, the overall outlook for the $297 billion IT services sector remains cautious, with revenue growth forecasts ranging from a 0.5% decline to 3.5% growth due to factors such as large deal costs and wage increases. Analysts also note that while currency benefits may enhance margins, companies may face challenges in realizing these gains effectively.