Page 12 - It Services

Sify aims Rs 3,500 cr revenue this fiscal, bullish on cloud services

IT services company Sify Technologies is bullish on the cloud services business and aims to clock revenue of Rs 3,500 crore in the current fiscal, a senior official of the company said on Saturday. Sify Technologies CEO Kamal Nath said that the company is expanding its data centre footprint and partnered with Hewlett Packard Enterprise for implementing its Greenlake technology to provide cost efficiency as well as predictability in the cost of cloud computing requirements of business organisations. Nath said that the company is seeing huge opportunities in the adoption of the hybrid cloud business. "Hybrid cloud promotes our data centre business, network business. It promotes all our business. We are already at a run rate of Rs 3,000 crore. We are eyeing Rs 3,500 crore (this fiscal)," Nath said on the sidelines of the CIO and Leader Conference here. The company had revenue of Rs 2,702.6 crore in 2021-22. In the first quarter ended June 30, 2022, the company's revenue grew 19.5 per

CAMS promoter entity pares 3.79% stake for Rs 428 crore in IT company

Computer Age Management Services Ltd (CAMS) promoter entity on Friday divested a 3.79 per cent stake in the IT services company, garnering Rs 428 crore through an open market transaction. Great Terrain Investment Ltd offloaded a total of 18.55 lakh shares, amounting to a 3.79 per cent stake in the company, as per bulk deal data available with BSE. The shares were sold at an average price of Rs 2,306.18 apiece, taking the transaction value to Rs 427.99 crore. However, the buyer(s) of the shares could not be ascertained. As of the June quarter, Great Terrain Investment Ltd held a 23.74 per cent stake in CAMS, a shareholding pattern showed. CAMS shares fell by 5.48 per cent to close at Rs 2,250.10 on BSE.

Financials lead earnings in Q1; metal & mining, IT firms among laggards

BFSI companies together accounted for 48 per cent of the incremental growth in corporate profits on a year-on-year (YoY) basis in the quarter

Raking in the moolah: CEO earnings up in tandem with profits of companies

JSW Steel chief Sajjan Jindal top-earning CEO in FY22 with Rs 134.8 crore, up 83.7%

IT industry's 'people' conundrum may delay its revenue growth targets

The current talent crisis may delay the industry's efforts to move up the value chain by delinking headcount and revenue streams

Cognizant Q2 profit up 12.7% at $577 mn, lowers revenue guidance

Revenue was at $4.9 billion, up 9.5 per cent in constant currency on a year-on-year (YoY) basis

Infosys disappoints on profit, ups FY23 revenue growth guidance to 14-16%

Its net profit for Q1FY23 was below expectations at Rs 5,360 crore, up 3.2 per cent year-on-year (YoY) but was down 5.7 per cent sequentially

'Have enough headroom to improve margins going ahead,' says Wipro CFO

The margin for India's fourth-largest IT services firm declined 200 basis points over the previous quarter.

TCS is UK's no.1 software and IT services company once again: Report

Tata Consultancy Services (TCS) said on Monday it has been ranked number one by revenue among the top 30 suppliers of software and IT services (SITS) to the UK market by industry analyst firm

Big Tech games system many times: Chandrasekhar after Uber Files report

Chandrashekhar added that innovation would grow along with a citizen's right to open a trusted and accountable Internet under the Modi government.

TCS beats street estimates with 16.2% Q1 revenue growth; margins disappoint

The consolidated revenue of the IT major grew to Rs crore in the quarter under review from Rs 45,411 crore a year ago

Q1FY23 results: Margin pressure on IT services to remain, focus on outlook

Supply-side issues continue to impact companies

Hybrid or WFO, rising coronavirus cases haven't disturbed India Inc

Alert to Covid situation, companies across sectors are continuing with existing work models for now

Infosys gave capital return of over Rs 24,100 cr in FY22, says Nilekani

Board recommends final dividend of Rs 16 per share, which along with interim leads to a total of Rs 31 per share in FY2022.

RBI warns of risks from cross-border outsourcing of IT services

The RBI's observations come at a time when it is considering a mandate for domestic processing of payment transactions in order to ring-fence India's local payment systems.

RBI proposes norms for outsourcing of IT services by banks, NBFCs

Regulated entities (REs) will not require prior approval from the central bank for the outsourcing of IT and IT-enabled services

IT analysts in wait-and-watch mode as experts see mild recession in the US

Analysts predict that if a slowdown does happen by 2022-end, the impact will be seen only in second half of FY23

Tech funds run into rough weather in CY22, IT firms' stocks do well

Indian IT services sector is expected to benefit from digital transformation, particularly aided by cloud adoption.

Engineering R&D segment to outperform IT services players in FY23

Barring Cyient, valuations of most ER&D firms on the expensive side

Companies looking to accelerate digital transformation: HCL's Roshni Nadar

The global clients have a razor-sharp focus on accelerating digital transformation with efficiency, HCL Technologies Chairperson Roshni Nadar Malhotra said