This research delves into a thorough analysis of the financial performance of major IT companies in India from 2019 to 2023. Focused on Wipro, Infosys, Larsen & Toubro (L&T), Tata Consultancy Services (TCS), and HCL Technologies, the study employs essential financial ratio – Gross Profit (GP) ratio, Net Profit (NP) ratio, Return on Equity (ROE), Return on Assets (ROA), and Return on Capital Employed (ROCE). Differentiating itself from trading financial analysis, this study introduces statistical rigor through the utilization of the F-test and one-way Analysis of Variance (ANOVA). By employing these statistical tools, the research aims to identify significant variations in financial performance among the selected companies and pinpoint key determinants influencing their profitability dynamics. The incorporation of the F-test and ANOVA not only enriches the analysis quantitatively but also facilitates a comparative assessment of the financial strategies adopted by these IT giants. Anticipated Findings will provide stakeholders, investors and industry analysts with nuanced insight into the factors steering profitability and the relative performance of Wipro, Infosys, L&T, TCS and HCL Technologies in the dynamic Indian IT landscape. This research contributes to a holistic framework or evaluating and comparing profitability trajectories in the Indian IT sector, representing a significant step toward understanding the intricate relationship between financial metrics and statistical analyses.