Page 5 - It Service

Wipro's stock slips ahead of Q1FY25 earnings; check what analysts expect

Wipro is expected to see a tepid June quarter with revenues estimated to slide on a year on year basis and net profits seeing a marginal rise

LTIMindtree bags multimillion dollar contract extension with Absa Bank

This strengthened partnership solidifies LTIMindtree's leadership in the banking, financial services, and insurance (BFSI) sector

Move over IT

Other business services emerge as India's new export star, which could outpace software and information technology with strategic support

LTIMindtree Q1 results: Net profit down by 1.5%, revenue increases by 5%

The company's first-quarter performance beat revenue but missed net profit estimates of Bloomberg

HCLTech Q1FY25 results: Net profit rises 20.4% to Rs 4,257 crore

HCLTech maintained revenue guidance for FY25 at 3-5%

IT giant Accenture acquires US-based Cientra for undisclosed amount

The firm has presence in India and adds capabilities in silicon design and engineering

HCL Tech Q1 Preview: Weak deals, client spending to dent profits by 5-7%

According to analysts, HCL Tech is likely to report a revenue increase of 6-7 per cent year-on-year (Y-o-Y) between Rs 27,900 crore to Rs 28,034 crore

TCS Q1 Preview: Margin pressure to weigh; net profit may rise 6-9%

Tata Consultancy Services (TCS) is expected to register a single-digit growth in revenue and profit for the April-June quarter of fiscal year 2024-25 (Q1FY25)

Persistent Systems hits 52-week high on acquiring US firm for $20.7 mn

Persistent Systems Inc., the US-based subsidiary of company, entered into a stock purchase agreement on July 2, 2024, to acquire Starfish Associates for a total acquisition cost of $20.7 million

Nomura has high hopes from Infosys, Coforge ahead of Q1FY25 results

Given the bottoming out of revenue growth rate, analysts expect the earnings per share (EPS) downgrade cycle to come to an end for the sector

Accenture narrows full-year guidance; Q3 revenue declines 1% to $16.47 bn

New bookings for Q3FY24 reached $21.06 billion, a 22 per cent increase Y-o-Y

Top IT services companies likely to focus on tiered hiring strategy

The salary of a fresher engineer joining the IT services sector starts at around Rs 3.5 lakh per annum. Whereas, freshers who get selected through this tiered framework can get 6.25-12 lakh per annum

Who is Azim Premji? The architect of IT major Wipro's global success

Padma Bhushan awardee Azim Premji, with a net worth of $12 billion, is the founder of Wipro and established the Azim Premji Foundation

Coforge Q4 results: Profit rises 94.8%, acquires Cigniti Technologies

The dollar revenue for the fourth quarter grew 1.9 per cent sequentially in constant currency to $286.8 million, led by deal wins worth $400 million

Q4 results: Weak communications show dials down Tech Mahindra revenue

Ahead of the earnings, Tech Mahindra's shares were up 0.3 per cent to close at Rs 1,190.10 on the Bombay Stock Exchange.

Exporting services

India should sustain the momentum

'AI could replace the need for call centres': TCS CEO Krithivasan

K Krithivasan believes that the demand for IT talent will always increase and employment will not be in trouble

Wipro Q4 results: Profit declines 8%, guidance muted for next quarter

FY25 Q1 revenue growth forecast at -1.5 to +0.5%

Spending in IT sector to hit $139 bn in 2024, growing at 13.2%: Gartner

The growth is expected in all major segments, including software, devices, IT services, and data centre systems

GCCs, 3rd-party IT service providers driving demand for workspace: Report

International companies outsourcing jobs to India have become a major driver of office demand in the country with global capability centres and third-party IT service providers contributing 46 per cent to the total leasing of workspace during 2023, according to Knight Frank. Real estate consultant Knight Frank, in its latest report 'Asia Pacific Horizon: Harnessing the Potential of Offshoring', noted that the offshoring industry in India has grown significantly into a leading global service provider, accounting for 57 per cent of the global offshoring market. The consultant explained that the offshoring market involves companies outsourcing business processes or services to external providers located abroad, aiming to leverage cost savings, specialised skills, and operational efficiencies. The offshoring market, also known as Business Process Outsourcing (BPO), encompasses various models such as Global Capability Centres (GCCs) and Global Business Services (GBS). GCCs are internal