Page 15 - It Services

Infosys Q2 net profit rises 11% to Rs 6,021 cr, raises its FY23 guidance

Bloomberg had estimated revenue to be Rs 36,564 crore and net profit at Rs 5,902 crore

Mindtree Q2 net profit rises 27.5% to Rs 508 cr; revenue up 31.5%

Mindtree signed total contract value (TCVs) worth $518 million, taking its first half of FY23 TCV to $1 billion for the first time ever

HCLTech revenue growth guidance raised to 13.5-14.5%; Q2 profit up 7%

Revenue grows 19.5% to Rs 24,686 crore in Q2

Accenture's outsourcing guidance bodes well for big Indian IT cos: Analysts

Analysts underscored that Accenture's August quarter (Q4FY22) results reflected softening of demand for IT services, and thus remain 'cautious' on the sector

Accenture warns of forex hit in 2023 amid strong IT services' demand

US firms with large overseas operations such as Microsoft and Salesforce have in recent months flagged the toll from the strongest greenback in two decades

TCS changes its hike structure, does away with anniversary hikes

The changes come at a time when the industry is seeing demand constraints from its majority market and budgets are under pressure and deals are taking time to close

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.