Page 21 - It Services

Persistent Systems' O'Connor steps down as CEO, cites personal reasons

O'Connor worked as a senior executive at IBM's internet of things (IOT) division before joining Persistent Systems.

Mindtree PBT more than doubles in Q1; revenues up 4.1% to Rs 1,908.8 cr

Revenue of the firm grew 4.1 per cent year-on-year to Rs 1,908.8 crore during this period though it declined 6.9 per cent sequentially

IT services sector's revenues may contract up to 3% in FY21: Icra

In its report, domestic rating agency Icra also said that the profit margins for the sector will go down as the growth slows down

IT services sector may see downturn of up to -3% due to Covid-19: Icra

IT services companies have managed to overcome supply-led challenges through uninterrupted delivery of IT services through work from home model

Capgemini bucks trend, rolls out wage hikes, promotions amid Covid crisis

Performance review likely to see some retrenchments

Despite poor show in Q4, India Inc's combined dividend payout rises 6.5%

Experts attribute the higher payout to the change in dividend law and cut in corporate income tax.

Covid-19 crisis: $30-billion deal renewal headache for IT companies

Outsourcing deals are either going to be renewed at a lower price or they will be delayed, say experts.

IT firms to face heat as global enterprises put digital projects on hold

Digital initiatives of several global enterprises have been cancelled or postponed in the last couple of months as the Covid-19 crisis has prompted firms to halt non-revenue generating ventures

IT professionals think worse coming in next 6 months: LinkedIn survey

One in three Indians have reported a decrease in their personal incomes, says 'Workforce Confidence Index' of LinkedIn.

Tech Mahindra Q4 net falls 29%; recommends final dividend of Rs 5/share

The Pune-headquartered company reported Rs 804 crore in consolidated net profit for the March quarter (Q4FY20), a decline of 29.1 per cent on year-on-year (YoY) basis

Hexaware Q1 profit rises 26% to Rs 175 cr; suspends full-year guidance

Net profit rose 26.3 per cent year-on-year at Rs 175 crore while it increased 4.3 per cent on a sequential basis for January-March.

Coronavirus: IT firms ask clients abroad to allow staff to work from home

Currently, while many IT employees are working from home, a significant majority has to come to office as companies don't allow these staffers to work from home

Covid-19: India's outsourcing sector struggles with work-from-home scenario

That raises questions about whether one of India's showpiece industries can function smoothly amid the coronavirus crisis.

Coronavirus scare: IT services firms draw business exigency plans

With uncertainties around growth outlook, most companies are likely to go slow on their payback plans to shareholders

Coronavirus fear: Biz disruption will outweigh currency gain, say analysts

The rupee declined 0.3 per cent on Friday to hit an all-time low of Rs 75.20 against the dollar

Coronavirus spread: IT services companies likely to go slow on hiring

Among IT firms, market leader Tata Consultancy Services (TCS) has added around 30,000 fresh graduates in this financial year

Wipro unlikely to see impact of coronavirus outbreak in March quarter

Discretionary spend by the clients take a hit during slowdowns or uncertain business environment, as such spends are largely under the discretion of the clients

Coronavirus impact: Infosys revenue growth likely to decline in FY21

However, the IT services firm is better-placed to handle the slowdown arising from COVID-19.

Mindtree founders drop promoter tag as firm reclassifies them as 'public'

Founders had requested for the reclassification in July last year after L&T took over the Bengaluru-based firm

Big domestic IT services firms may see tepid revenue growth in Q3

Both TCS and Infosys are likely to expand operating margins in Q3