Page 3 - It Companies

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

Markets Today: Wipro, TechM, RIL, Infy, Axis Bk Q3; FIIs; Capital Infra IPO

At 6:35 AM, GIFT Nifty futures indicated a weaker start for the markets, trading 56 points lower at 23,321.5

Wipro Q3 preview: Net profit may jump up to 16% YoY, revenue to remain flat

Wipro's Q3 performance is expected to reflect seasonal furlough impacts, client-specific challenges, and currency headwinds

TCS Q3 results: Net profit jumps 12% to Rs 12,380 cr, revenue swells 5.6%

Revenue for the company grew 5.6 per cent to Rs 63,973 crore in Q3 FY25. Sequentially, the firm's revenue declined by 0.4 per cent

TCS share price remains flat ahead of Q3 results; here's what to expect

Brokerages tracked by Business Standard expect TCS to report a 6.3 per cent year-on-year (Y-o-Y) revenue growth for Q3, reaching Rs 6,445.63 crore, up from Rs 6,060 crore in the previous year

Mphasis share pops 3% as Jefferies initiates with 'Buy', sees 21% upside

The northward move in Mphasis share price came after New York-based financial services company Jefferies initiated coverage with 'Buy' for a target price of Rs 3,460 per share

H-1B visa row: Skilled worker movement helps both US and India, says MEA

India-US economic ties benefit significantly from the technical expertise provided by skilled professionals

Swiss PE eyes IT, pharma in India portfolio rejig after 300% gain

The fund is looking to exit some India investments and deploy the winnings in other sectors in the country such as healthcare, technology, education and shadow lending

Growth trajectory to aid higher valuations for Persistent Systems

The company continues to outpace the industry. Healthcare, and banking, financial services and insurance (BFSI) were the two verticals contributing to growth

Tech Mahindra boosts workforce by 6,653 in Q2, headcount climbs to 154,273

As of September, Tech Mahindra's employee count rose to 154,273 from 147,620 last quarter, while attrition slightly increased to 10.6 per cent, with IT attrition at 11 per cent

Sitharaman invites Mexican firms to collaborate with startups, institutions

Discussions focused on boosting cooperation in technology and innovation, with the goal of expanding collaboration between the two countries

Wipro's hybrid policy: Employees to work from office three days a week

The company's new work policy allows employees to choose their in-office days based on collaborative needs, while retaining the flexibility to work remotely on the remaining days

Wipro Q2FY25 preview: Revenue may fall up to 3% YoY; margin, guidance eyed

Overall, the sentiment remains cautiously optimistic for Wipro ahead of results, with key focus areas including large-deal pipelines and consulting growth.

Coforge gains 2%, hits record high on Rs 19 per share interim dividend

The company has fixed October 11, as the record date to ascertain the eligibility of shareholders for the payment of the second interim dividend.

Capgemini opens Esop plan to 97% employees, including 175k staff in India

This is the eleventh edition of the IT major's employee share ownership plan after the previous one from 2019 is set to expire at the end of the year

IT shares in demand; Coforge up 6% as Motilal Oswal upgrades stock to 'Buy'

The IT sector is on the cusp of a mild but possibly sustained recovery in client spending, and the impending rate cut cycle should add to the sector tailwinds, according to MOFSL.

CM Majhi inaugurates operation centres of four IT companies in Bhubaneswar

Chief Minister Mohan Charan Majhi on Friday inaugurated operation centres of four new IT companies here which is expected to strengthen Odisha's position as a key destination for IT, professional services, and Innovation. Majhi inaugurated the operation centres of Chubb Business Services, Integreon Managed Solutions, Bourntec Solutions, and Secuodsoft Technologies virtually. The presence of these companies in Odisha is a testament to our state's commitment to fostering a business-friendly environment. From IT to Manufacturing, from Research and Development to Professional Services, Odisha's diverse industrial landscape is expanding rapidly, Majhi said. Stating that Odisha has set a target to make Odisha a USD 500 Billion economy by 2036 and a USD 1.5 trillion economy by 2047, the chief minister said the IT/ITeS and the larger services sector will play a critical role in helping us achieve these goals. "Our focus is and will remain on creating an environment that nurtures businesses