Page 9 - Indian It Firms

Location-independent delivery model is silver lining: HCL Tech CEO

Chief Executive C VIJAYKUMAR talks to Sai Ishwar on the company's cost optimisation plans, impact of H-1B visa row, and mergers and acquisition plans

Shiv Nadar steps down as HCL Tech chairman, daughter Roshni takes over

Daughter Roshni Nadar Malhotra succeeds him to the top job

HCL Tech likely to grow 1.5-2.5%; Q1 net profit up 31.7% at Rs 2,925 cr

In the quarter ended Q1FY21, the company on Friday reported a profit before tax (PBT) of Rs 3,862 crore, up 31.7 per cent year on year (YoY), while it remained flat on a sequential basis.

L&T Infotech's PBT rises 16.9% to Rs 558.9 cr in Q1, revenue up 18.7%

The net profit for the quarter ended June 2020 (Q1FY21) rose 17.1 per cent year-on-year to Rs 416.4 crore on account of lower operating expenses.

Vanguard inks partnership with Infosys, to transfer 1,300 employees

All Vanguard staff currently performing relevant roles will be offered comparable positions at Infosys in close proximity to Vanguard's offices in Malvern, Charlotte, and Scottsdale

Mindtree PBT more than doubles in Q1; revenues up 4.1% to Rs 1,908.8 cr

Revenue of the firm grew 4.1 per cent year-on-year to Rs 1,908.8 crore during this period though it declined 6.9 per cent sequentially

Wipro sees green shoots in some verticals; net profit flat at Rs 2,390 cr

IT firm's margin expands despite revenue fall in Q1

Tata Consultancy Services lifts curb on lateral hiring amid Covid-19 crisis

The Mumbai-headquartered company, however, said it would selectively hire experienced employees from outside.

Covid-19 weighs on TCS numbers in Q1; net profit falls 13.8% to Rs 7,008 cr

IT major says pandemic impact may have bottomed out

Covid-19 crisis: Infosys charters a flight to get back staff stuck in US

Plans to deploy more such planes to bring back other employees

Indian IT firms may report 5-9% contraction in revenues for June quarter

Hospitality and travel, as well as manufacturing and retail, are the segments likely to see maximum hit

Indian IT services firms relying less on visas as approval rates nosedive

According to the US Citizenship and Immigration Services data, the share of Indian companies among the top 10 visa recipients has dropped from 51 per cent to 24 per cent during the 2016-19 period.

Visa suspension likely to cause minimal disruption for Indian IT firms

Recessionary environment, travel restriction to minimise the impact to a large extent

Galwan Valley clash: Indian IT services companies in wait-and-watch mode

Indian IT industry is one of the biggest Indian employers in China, with around 22,000 employees in the country, including locals as well as expatriates.

Infosys expects 35% of staff to work from home amid Covid-19 crisis

More than 90 per cent of staffers of most IT services firms are working from home. The companies are in no hurry to bring them back despite the relaxation in lockdown.

Covid-19 crisis: $30-billion deal renewal headache for IT companies

Outsourcing deals are either going to be renewed at a lower price or they will be delayed, say experts.

US-based Freshworks Inc announces strategic partnership with TCS

TCS will provide its global experience with extensive market presence and deep contextual knowledge of customer engagement, and digital offerings built on its Business 4.0 thought leadership framework

Covid-19 impact: Dividend payout by IT firms likely to dip further in FY21

Payout has fallen for most firms except TCS in FY20 as companies looked at conserving cash

India IT spending to dip 8% in 2020 amid Covid-19 pandemic, says Gartner

Gartner expects spending on devices and data centre systems in India to see their steepest declines in 2020, at -15.1 per cent and -13.2 per cent, respectively.

Wipro's outgoing CEO Abidali Neemuchwala sees 12% rise in pay package

In comparison, Infosys' CEO Salil Parekh drew a pay package of $6.15 million (around Rs 40 crore) in the last financial year, a rise of 27 per cent over the previous fiscal.