It Companies

Microsoft shuts Pakistan office after 25 years amid global overhaul

Tech giant Microsoft has announced to shut down its limited operations in Pakistan as part of its global strategy to reduce workforce, which various stakeholders termed on Friday as a troubling sign for the country's economy. Microsoft, while closing its office in Pakistan on Thursday after 25 years, cited global restructuring and a shift to a cloud-based, partner-led model. The move came as the tech giant cut roughly 9,100 jobs worldwide (or about 4 per cent of its workforce) in its largest layoff round since 2023. Jawwad Rehman, former founding Country Manager of Microsoft Pakistan, urged the government and IT minister to engage with the tech giants with a bold KPI (Key Performance Indicators) driven plan. He said the exit reflected the current business climate. Even global giants like Microsoft find it unsustainable to stay, he posted on LinkedIn. Former Pakistan president Arif Alvi, in a post on X, also expressed concern over Microsoft shutting down operations. It is a troubl

Nifty IT worst performer so far in 2025, drops 10%; time to bottom fish?

Between December 31, 2024 and June 25, 2025 the Nifty IT index has slumped 9.90 per cent, in stark contrast to the Nifty 50, which is up 6.76 per cent during the same period, NSE data showed.

We are seeing significant traction in large deals: LTIMindtree CEO

Last month the company announced it has signed a $450 million deal with an agribusiness customer, this is one of the largest deals ever bagged by the firm since the merger

Mphasis signs Sixfold deal to boost underwriting through generative AI

Mphasis to integrate Sixfold's generative AI tools to help global insurers speed up underwriting, enhance accuracy and improve contextual risk decision-making

US-based Guidewire Software planning to double India headcount in 3 yrs

The planned expansion will see India representing nearly a quarter of the company's global workforce

Infosys rolls out 65% bonus for Q4 FY25, down from previous quarters

Infosys distributed an average a bonus of 80 per cent in Q3 FY25, and 90 per cent in Q2 FY25, Moneycontrol reported

Happiest Minds Technologies Q4 results: Net profit drops 53% to Rs 34 crore

Mid-cap Indian IT firm Happiest Minds Technologies has reported a 52.7 per cent decline in consolidated net profit to Rs 34 crore in the March-ended quarter. It had posted a profit of Rs 71.9 crore in the year-ago period, according to a regulatory filing. Revenue for the quarter under review rose 30.5 per cent to Rs 544.5 crore, compared with Rs 417.2 crore in Q4 FY24. Sequentially, profit dropped 32 per cent, while revenue rose 2.5 per cent. The firm added 14 new clients in Q4, bringing the tally to 281. For full FY25, the Bengaluru-headquartered firm logged a profit of Rs 184.6 crore, a 25.6 per cent dip from Rs 248.3 per cent in FY24. Revenue in FY25 was recorded 26.8 per cent higher at 2,060.8 crore. The company, in March, announced a slew of apex-level changes in its organisation structure with immediate effect. As part of the rejig, Executive Vice Chairman Joseph Anantharaju was elevated to Co-Chairman and CEO, while Chairman Ashok Soota took up an additional position as

'No bulk hiring anytime soon' as IT companies navigate tricky ground

TCS and Infosys did most of the net hiring in the last financial year, followed by Tech Mahindra while Wipro added very few people

IT companies using AI, GenAI to reduce client costs as budgets squeeze

This marks a shift in how cost savings are achieved in traditional IT projects, popularly known as the run-side

Next wave of innovation in India needs to be deep tech led: Chandrasekhar

Chandrasekhar said that the new tech startups will need a different talent set from what the country generated earlier. Science and research are going to be "bedrock" of the innovation wave, he said

FY26 may be worse than FY25 for IT services firms amid global headwinds

Uncertainty is also accentuated as the tariff scenario can play out in numerous different ways. A large part of the tariffs could get rescinded in the future or there can be an escalation of tariffs

Indian IT companies brace for impact as tariffs fan US recession fears

The tariffs come at a time the sector was counting on Trump to revive client confidence and discretionary spending after years of weak revenue growth

IT's market grip loosens in Nifty 50, weight at 16-year low of 11.66%

Weak earnings, Trump policies weigh on IT stocks

India's IT sector must revamp biz, create own language models: HCLTech CEO

The generative AI boom has threatened to disrupt business models for Indian IT companies that largely serve clients in the United States for operations support, providing software as a service

Data centre boom, GCCs to boost Black Box topline in FY26, says CEO

According to Gartner, global IT spending is projected to reach $5.7 trn in 2025. Of this, IT infrastructure spending is expected to be $600 bn to $750 bn

Birlasoft share tanks 6%, hits 52-week low as analysts cut targets post Q3

On the bourses, Birlasoft share price plunged 6.39 per cent to hit a fresh 52-week low of Rs 472.40 per share on Wednesday, February 12, 2025

Black Box Q3 results: Profit up 37% to Rs 56 cr, revenue slips 9%

Essar Group's IT arm Black Box has reported a 37.2 per cent increase in consolidated net profit to Rs 56.08 crore for the October-December quarter of 2024-25 compared to Rs 40.87 crore in the same period of the previous fiscal. Revenue from operations for dropped by 9.28 per cent to Rs 1,501.7 crore in the third quarter of FY25 against Rs 1,655.4 crore in the December quarter of FY24. The company said subdued order bookings as a result of delayed decision-making with some of its large customers, coupled with its strategy to exit the tail customers led to a decline in revenue. However, the pipeline continues to remain strong, it said, with the order book standing at USD 465 million. Additionally, the company has already received orders worth USD 80 million in the ongoing quarter. "Positive impact already seen in Q4 FY25 and expected to strengthen from Q1FY26...Pipeline conversion and improved win-rate expected to positively impact the revenues beginning Q2FY26 onwards," the statemen

TCS to modernise Muscat Clearing & Depository system under new agreement

TCS will implement its flagship platform, TCS BaNCS for Market Infrastructure, alongside Quartz, to enhance MCD's Clearing, Settlement, and Depository services

Nasdaq-listed IT major Cognizant targets 6.5-8% growth in Q1 FY25

The Nasdaq-listed firm reported a revenue growth of 6.7 per cent for the fourth quarter

Wipro's Q3FY25 results exceed projections, yet analysts remain divided

Wipro's Q3FY25 net profit rose 24.5 per cent Y-o-Y to Rs 3,350 crore, with a 4.5 per cent Q-o-Q increase. Revenue was Rs 22,320 crore, up 0.5 per cent Y-o-Y and flat Q-o-Q