Page 12 - It Services

Tech Mahindra's Q3 profit slides 5.3% as expenses jump on macro challenges

India's Tech Mahindra reported a fall in third-quarter profit on Monday, hurt by higher expenses and a subdued performance by its communications division

Margins to improve by 200-250 bps next quarter: LTIMindtree CEO

In a Q&A, Debashis Chatterjee also dwells on the impact of the economic slowdown on his firm's demand outlook

Tech spend to increase, we'll hire 30K in FY24: HCLTech CEO C Vijayakumar

IT major HCLTech reported strong growth in net profit and operating margins in Q3FY23

Results preview: Q3 may drive caution for IT sector, better margins likely

Almost all the tierI companies in the Q2 of FY23 had signalled then that though the current macro has not impacted budget in general, there are specific pockets where delay in deal closure was evident

Infosys@40: From an idea in a one-bedroom apartment to a $71.41 bn company

The IT services company which was established four decades ago is focusing on cutting-edge innovations in areas such as cybersecurity, cloud computing and data analytics

Govts to spend $11.6 billion on tech in 2023, says Gartner report

The projected spending is $11.6 billion in 2023, the report said

Digital economy to create 10 million in 2 years: Ashwini Vaishnaw

Start-ups leading technology development, can emerge from small villages even: Minister

Aversion to the cloud for engineering operations is fading, shows data

Cloud adoption for engineering and manufacturing grew 2.5x times vis-a-vispre-pandemic levels

R Systems zooms 20% on Blackstone's open offer to acquire majority stake

Blackstone has made an offer for acquiring up to 57.17 million equity shares, representing 48.33 per cent of R Systems equity, at Rs 245 apiece.

Indian IT industry to hire 200,000 people in near term: Kris Gopalakrishnan

'Ups and downs' in global economy will not impact Indian industry for long, he says

Indian IT, business services market grew 7.4% in first half of 2022: Study

The IT and business services market in the country was valued at $7.15 billion between January and June 2022, according to IDC

Tech Mahindra to come out with moonlighting policy this month: Report

Many employees working from home during the pandemic took up side jobs without the approval of their parent firm

L&T Infotech and Mindtree receives approval for merger from NCLT

Creates India's sixth largest IT services and fifth largest in market cap

Vee Technologies announces Rs 200 crore expansion plan in TN

The IT services firm's expansion plan in Tamil Nadu will create hundreds of new jobs

Top IT services firm hit the pause button on hiring amid weak earnings

However, fears of an impending recession and declining profitability have together contributed in the change of mood for these IT services companies, along with their approach

India's services exports to buck recession fears; see 25-30% growth

Notwithstanding the threat of a recession looming ahead for the developed economies, exporters say they expect a similar trend to continue in the second half of the year

Infy may overtake Cognizant on revenue front after a decade, say analysts

Slow growth rate and execution challenges impact Cognizant Q4 performance

Tech Mahindra working on a policy to allow moonlighting: C P Gurnani

Employees will need prior permission; no-tolerance policy will be followed if they hide, he adds

Tech Mahindra Q2 net down 4% YoY to Rs 1,285 cr on supply side pressure

Profit was up sequentially, however; Revenue rose 20.7% YoY and 3.3% QoQ, driven by growth in CME segment and the US market

Yotta signs MoU with UP govt to invest Rs 39,000 cr in data centre park

First data centre already launched at a cost of Rs 1,500 cr; Yotta to spend Rs 39,000 cr on construction, IT equipment and hardware over next 5-7 years