Some major contracts coming up for renewal include TCS' deals with Star Alliance, a consortium of airlines based in Germany, and Nielsen; Infosys' deals with GE Appliances and Daimler; HCLTech's with UK-based life insurer Chesnara; Wipro's with German electric utility company E.ON and Petrobras of Brazil; and Tech Mahindra's with Circle Health.
IT services company HCLTech on Friday posted a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5 per cent for FY25 on GenAI diversification and strong operational execution. For the fiscal's first quarter ended June 2024 (Q1 FY25), the revenue came in at Rs 28,057 crore, 6.6 per cent more than in the year-ago period. Seen sequentially, it was 1.6 per cent lower than the March quarter.
The two IT majors -- Infosys and TCS -- delivered disappointing results for the fourth quarter of the 2022-23 financial year (Q4FY23). Poor macro conditions and weak sentiment in the banking, financial services and insurance (BFSI) space accounted for the miss. For TCS, revenue in constant currency (CC) terms grew at 0.6 per cent on a quarter-on-quarter (QoQ) basis. Weakness was visible in North America, primarily due to deferred discretionary spending.
Besides working on better operational control, internal efficiency and leveraging of internal talent, Salil Parekh is also focusing on building a pipeline of leaders
Former President APJ Abdul Kalam on Wednesday launched the Machine translation (MT) systems, also called content multiplier tools, developed with funding from TDIL (Technology Development for Indian Languages) programme at the 20th International World Wide Web conference in Hyderabad.
'One year on, it's worked reasonably well. It's been a rewarding journey but the journey has no finish line.'
Bangalore-based specialised software solution provider Manthan Systems has launched two new analytical products primarily targeting retailers and consumer packaged goods industry in North America and Europe.
"On demonetisation, across the board for pretty much all of industry, and CPG (Consumer Packaged Goods) in particular because it hit the individual retailer significantly, demonetisation had a significant impact on our India business in Q4," Nooyi said during an earnings call for Pepsi's fourth quarter that ended on December 2016.
Stating that implementation of the demonetisation policy had its "share of challenges", Nooyi hoped that things will return to normal by the second quarter.
With the appointment of Vishal Sikka as CEO and Managing Director of the company, IT major Infosys has elevated 12 leaders to the position of Executive Vice President with additional responsibilities.
Revenues rose 7.7 per cent to $1.54 billion during the review period, from $1.43 billion in the corresponding quarter last fiscal.
IT services major Infosys, which has been battling high attrition rates, expects the situation to continue for a few more quarters before it can be brought down to "comfortable" levels, its Chief Operating Officer U B Pravin Rao said.
The US and Europe are key markets for the over $ 140 billion Indian outsourcing sector.
Food is one of the biggest incentives for travellers to start a vegan tour.
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