Page 10 - It Services

Infosys, AWS join hands to help financial clients accelerate cloud adoption

As part of the collaboration, Infosys and AWS aim to support financial organisations, like retail banking at NatWest Group, in accelerating their cloud adoption journeys

Wipro asks employees to work from office thrice a week as Covid curbs eased

Companies have been reversing or modifying their "remote work" policies as Covid-19 pandemic-related restrictions wound down for reasons including better communication and collaboration among workers.

HCLTech, Cisco partner to launch AI powered Meeting Rooms Services

The Meeting-Rooms-as-a-Service (MRaaS) will enable users to join meetings from any meeting solution provider using Cisco's Webex devices

Caution: Campus hiring by Indian IT services giants is in the slow lane

The management of the companies said that excessive hiring in the last few years has meant recalibration of employees as growth dipped

80% of IT services companies likely to get to 5-day work mode by FY24 end

HR experts also point that with attrition back to its level many are taking the current dip in business momentum to get its employees back in office

A fifth of entry-level technology jobs may go artificial intelligence way

Experts believe acquiring niche skills can be a smart way to stay relevant in an AI-driven market

Results preview: IT companies brace for Q2 setback on muted growth

Analysts are expecting that the momentum in the closure of record total contract value (TCVs) will continue, as has been the case over the last two quarters

Accenture forecasts first-quarter revenue below Wall Street estimates

Infosys halved its full-year revenue forecast in July, citing delayed decision-making on future projects from clients, while Tata Consultancy Services also flagged soft demand

Wipro CFO Jatin Pravinchandra Dalal quits, Aparna Iyer takes over charge

Aparna will report to CEO Thierry Delaporte and will join the Wipro Executive Board

Black Box opens new centre of excellence in Bengaluru, to create 500 jobs

The new centre is also projected to increase the company's margin by around Rs 50 crore in the near term, according to Black Box

IT services firm NTT Data launches 3 centres of excellence in Chennai

Facilities will train engineering students in application development, computing languages

Colt Data Centre lines up Rs 6.2K cr for Mumbai, Chennai units in 5 years

Based in Navi Mumbai, the new data centre sits on a land parcel of 15 acres and is capable of supporting 120 Megawatts (MW) of IT power capacity

IT services sector's revenue growth to slow down to 3% in FY24: ICRA

Indian IT services sector's revenue growth will slow down to 3 per cent in the current fiscal from 9.2 per cent in the previous financial year, a domestic ratings company said on Tuesday. Icra Ratings said the profitability will also take a beating in this financial year and the operating profit margin will narrow by up to 1 percentage point to 20-21 per cent. The topline growth will come down to 3-5 per cent in FY24 from the 9.2 per cent posted in FY23, the agency said, attributing the slowdown to softening demand. The agency's sector head Deepak Jotwani said there has been "persistent uncertainty" in the key markets for IT companies which has resulted in pauses and deferral of non-critical projects and slowdown in discretionary IT spends by key sectors like banking, financial services and insurance, retail, technology and communication. As per industry lobby Nasscom, the sector directly employs over 50 lakh people while analysts say it was crucial for the post-pandemic recovery o

Wipro bets on Capco, Cloud, artificial intelligence to power BFSI revenue

To fortify its BFSI vertical, Wipro is investing in technologies like cloud and AI. Dann mentioned that Wipro's recent $1 billion investment in AI aligns with this vision

Generative AI to show reasonable revenue impact: Persistent Systems CEO

Despite microeconomic challenges, the company is comfortable with the growth, Sandeep Kalra, CEO and Executive Director, of Persistent Systems said in an interview

Wipro reduces client base to pursue high-margin deals and profitability

India's fourth-largest IT services firm, Wipro, aims for faster profitability ascent by cutting smaller clients and focusing on bigger revenue opportunities

More misses than hits hint at uncertain times for IT services companies

First mismatch in the numbers is the total contract value (TCV) signed by the firms and the actual revenue growth registered

Coforge eyes $50-200 million acquisition in data analytics, cloud space

As part of its growth plans, the firm plans to hire 3,000-4,000 people by FY24-end

Mid-cap IT services Coforge Q1 net profit rises 10% to Rs 165 crore

Mid-cap IT services company Coforge on Thursday reported a 10 per cent rise in net profit to Rs 165 crore for the first quarter of this fiscal. It had posted a net profit of Rs 149 crore in the year-ago period. The company's revenue in constant currency terms increased 18 per cent to Rs 2,221 crore from Rs 1,829 crore in Q1 FY23, according to a BSE filing. Sequentially, Coforge profit rose 43.9 per cent, while revenue grew 2.4 per cent. According to the company, its headcount increased by 1,000 employees, and attrition came down to 13 per cent. "Exceptional execution by Team Coforge in a testing environment allowed us to deliver another quarter of sustained, robust and profitable growth. During the quarter, we increased our net headcount by 1,000 employees to support future growth...and saw attrition drop down to 13.3 per cent," its Chief Executive Officer Sudhir Singh said. The firm maintained its growth guidance for the fiscal at 13-16 per cent in constant currency terms.

Wipro sharpens its focus on the European market, sees high potential

Wipro CEO & MD Thierry Delaporte said the potential was really good as regions like South Europe or Nordics were growing at more than 20%