IT services major Wipro on Friday reported a 7 per cent decline in consolidated net profit to Rs 3,119 crore in the third quarter of FY26, weighed by a one-time provisional impact of Rs 302.8 crore due to the implementation of new Labour Codes.
Infosys on Wednesday reported a one-time exceptional hit of Rs 1,289 crore on account of the impact of the implementation of new labour codes, as India's second-largest IT services firm announced its December quarter earnings.
AI is changing how IT companies hire, with skills like learning fast and solving problems now more important than degrees.
Benchmark stock indices Sensex and Nifty dived sharply by nearly 2 per cent on Sunday after Finance Minister Nirmala Sitharaman proposed a hike in the Securities Transaction Tax (STT) on derivatives. Reversing the early gains, the 30-share BSE Sensex plunged sharply by 2,370.36 points or 2.88 per cent to slide below the 80,000-mark at 79,899.42 in afternoon trade as the finance minister announced a hike in STT on futures contracts to 0.05 per cent from the current 0.02 per cent.
While FY25 attrition rates remained below pre-Covid levels, most companies experienced a 1 to 3 percentage point increase compared to FY24.
India's largest IT services firm Tata Consultancy Services (TCS) on Thursday reported a 1.39 per cent increase in consolidated net profit to Rs 12,075 crore in the July-September quarter of this financial year.
The US has replaced random H-1B selection with a wage-weighted lottery and a new $100,000 fee for applications, raising uncertainty for students and junior hires.
India's top IT services firms delivered single-digit revenue growth in April-June, capping off a mixed, somewhat-sobering quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decisionmaking. Management commentary painted a mixed picture, caution prevailed, yet industry CEOs also emphasised cost optimisation, vendor consolidation, and opportunities in AI makeovers.
K Krithivasan, the chief executive and managing director of India's largest IT services company TCS, took home a remuneration of Rs 26.52 crore in FY25.
Most global as well as domestic brokerages are upbeat on India's largest IT services provider, Tata Consultancy Services (TCS), despite its performance during the December quarter of FY25, when it missed Street estimates. On the bourses, the TCS share price rallied as much as 6.44 per cent to hit an intraday high of Rs 4,296.80 apiece, before settling 5.67 per cent higher at Rs 4,265.55.
Tata Sons chairman N Chandrasekaran is learnt to have discussed the engagement of outgoing TCS MD and CEO Rajesh Gopinathan with the group beyond September 15 in an advisory role, according to sources from Tata Group. Tata Sons and IT behemoth Tata Consultancy Services declined to comment on the development. Tata Group sources, who did not wish to be identified, told PTI that there have been preliminary discussions between the two as the group needs reliable and experienced hands with its diversification into various technology domains.
K Krithivasan, chief executive officer (CEO) and managing director (MD) of TCS, took home a salary of Rs 25.4 crore in 2023-24 (FY24), less than chief operating officer and executive director N Ganapathy Subramaniam. Krithivasan took charge as CEO on June 1, 2023.
Mid-tier information-technology (IT) companies last financial year reported better growth numbers than their larger counterparts, highlighting their ability to navigate the uncertain macroeconomic environment. Most of these companies - such as Persistent Systems, Coforge, KPIT, and Mphasis - focus on niche businesses and industries that allow them to go deeper in terms of client mining and expanding wallet share from existing customers.
Indian SMBs spent $11.9 billion in 2010 on IT and it is expected to grow to $48.5 billion by 2015.
India's largest IT services firm TCS on Thursday reported a 4.99 per cent increase in its September quarter net profit at Rs 11,909 crore. The Tata Group company had reported a net profit of Rs 11,342 crore in the year-ago period, while in the preceding quarter, it had a post tax net of Rs 12,040 crore, a company filing said.
Krithi Krithivasan is the kind of person one might look to when the need is to calm things down and put things back on track.
'I am confident that TCS's best years are ahead,' outgoing CEO tells staff in farewell email.
TCS will manage Diageo's global IT infrastructure, data centres and servers, in addition to providing service desk support to employees, TCS said in a statement.
The second-quarter performance of the top five information-technology services firms gives the hint that slow growth has bottomed out on the back of discretionary spending kicking in for the sector's largest vertical - the banking and financial services. However, concern about the macro-environment continues to be a challenge. Among the top four - Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro - it is Bengaluru-based Infosys that has performed the best and that was evident in its full-year revenue guidance.
IT major TCS CEO Rajesh Gopinathan has reigned, and the company nominated its global head of the BFSI division K Krithivasan as the CEO Designate with immediate effect, the firm said on Thursday. Gopinathan will continue with the company till September 15, 2023, to provide transition and support to his successor.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
IT major Tata Consultancy Services (TCS) has made changes to its leadership roles in North America. As part of the changes Suresh Muthuswami has been elevated to the role of chairman, North America, said sources in the know. This is one of the most significant leadership changes the company has announced for the region. The reason for the changes in the North American region, the largest in terms of revenue for TCS, is because Surya Kant who has been at the helm of North America for the past 16 years is stepping down by the end of the fiscal year, as he retires.
In March this year, when Tata Consultancy Services (TCS) unveiled a new brand statement of "Building on Belief", many wondered if it was the right strategy. When things are uncertain, wouldn't a brand statement such as "Experience Certainty" have been better? But for Rajesh Gopinathan, CEO & MD, TCS, it was all about the way the company was looking at business. As Gopinathan explained over a video call, "Today, we have over 1,000 customers and 98 per cent of our business is repeat business; our relevance to customers should continue, and to increase.
TCS said employee addition during the quarter stood at 18,362
The top three Indian IT firms -- Tata Consultancy Services (TCS), Infosys and Wipro -- collectively trained over 775,000 employees in generative AI (GenAI) capability by the end of 2023-24, according to an analysis of GenAI-trained workforce of leading companies in India in this sector. This number is significantly higher that the projection made by the IT industry body Nasscom in its Strategic Review of 2023, released in February this year. It said in 2023-2024, over 650,000 employees across the IT industry received training in Gen AI skills.
TCS CEO and MD Rajesh Gopinathan said the company believes the coronavirus impact has "bottomed out" and that TCS should now start tracing its path to growth.
Air India's use of artificial intelligence (AI) has had a huge impact on the airline major's call centre volumes and the technology integration has reduced costs by 100 times, a senior company executive said on Wednesday. The airline launched its own chatbot AI.g, earlier known as Maharaja, in May 2023. The chatbot has answered approximately two million queries since its launch, handling 93 per cent of customer inquiries without needing to pass them on to call centre agents, said Sathya Ramaswamy, Chief Digital and Technology Officer, Air India.
Tata Consultancy Services (TCS) has weathered the pandemic very well, and has earned tremendous goodwill from customers, which enhanced the firm's standing in the market, N Chandrasekaran, chairman, said in his virtual address of the 26th Annual General Meeting on Thursday. He said TCS shareholders received over 3,000 per cent return on their investments since the company was listed in 2004.
Tata Consultancy Services (TCS) on Friday reported a 14.1 per cent rise in consolidated net profit to Rs 9,624 crore in the September 2021 quarter, aided by broad-based growth across geographies and verticals. The Mumbai-based company had logged a net profit of Rs 8,433 crore (excluding adjustment towards a legal claim) in the year-ago period. Its revenue grew 16.7 per cent to Rs 46,867 crore for the September 2021 quarter from Rs 40,135 crore in the year-ago period.
India's largest software services firm Tata Consultancy Services (TCS) said the tenure of its Chief Executive Officer and MD N Chandrasekaran has been extended by five years to October 2019.
TCS plans to build ignio as a standalone company.
Indian IT services company Infosys on Thursday said all its employees in Israel are safe. Amid escalating tensions in the Middle East, Infosys CEO and MD Salil Parekh said its employees in Israel are primarily locals but declined to comment on the exact staff strength there. The company further said it is "saddened" by the situation unfolding in the region.
Tata Sons chairman N Chandrasekaran on Thursday said even though a "hybrid" model will be the new normal in future, India's largest software exporter TCS will ask employees to come to work once the pandemic is over as social interactions are a social necessity. "I do want to make the point that people need to meet people. It is a social necessity. "So, there will be a shift towards moving people to work when the pandemic gets over," Chandrasekaran, who also chairs TCS, said at the company's annual general meeting. At present, 97 per cent of the company's staff have been working from their homes because of the pandemic, he said, admitting that a "hybrid" model where people work from homes and also from offices will be the new normal.
S Ramadorai is now the vice-chairman of Tata Consultancy Services (TCS) after being its MD and CEO for a decade. He is also advisor to the Prime Minister on the National Skill Development Council (NSDC).
Customers embarking on multi-year technology refresh cycle and their increased focus on growth and transformation (G&T) initiatives are expected to provide strong growth levers for Tata Consultancy Services (TCS) in the medium and long term, its CEO Rajesh Gopinathan said.
In the list of top-five domestic firms, RIL was placed at the top of the pack followed by TCS, HDFC Bank (Rs 6,50,136.04 crore), HDFC (Rs 3,85,207.96 crore) and HUL (Rs 3,76,545.49 crore).
Revenue of the Mumbai-based firm grew 18.5 per cent in the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the corresponding period last fiscal.
In 2019-20, Gopinathan had received a total remuneration of Rs 13.3 crore. According to TCS' annual report for 2020-21, Gopinathan received Rs 1.27 crore in salary, Rs 2.09 crore in benefits, perquisites and allowances, and Rs 17 crore in commission. TCS chief operating officer N Ganapathy Subramaniam drew a pay package of about Rs 16.1 crore in the last financial year. This includes Rs 1.21 crore in salary, Rs 1.88 crore in benefits, perquisites and allowances, and Rs 13 crore in commission.
'We're putting a lot of focus on GenAI developers and people who can really do all the architecture and programming.'
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances