Tata Consultancy Services (TCS) is likely to delay its Rajarhat campus in West Bengal, as part of a string of cost-management initiatives to cope with the pangs of the global meltdown.
Strong deal wins and a good pipeline positions TCS very well in the new fiscal, TCS chief operating officer and executive director N Ganapathy Subramaniam said.
The company has declared a dividend of Rs 7 per share.
The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are validations that customers recognise TCS' differentiated capabilities, chief executive officer and managing director Rajesh Gopinathan said.
According to NASSCOM and McKenzie, it is projected that Indian IT sector will need around nine million employees and currently it has only 3.2 million, he informed.
Despite lower growth scenario; companies say reworking strategy
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
The executive remuneration for FY2020 is lower than FY2019 in view of the economic conditions impacted by the COVID-19 pandemic. The directors have decided to moderate the executive remuneration for this year to express solidarity and conserve resources.
With this, the total strength of TCS's board has increased to 11.
TCS registered revenues at Rs 30,541 crore in the second quarter of 2017-18, up 4.3 per cent from Rs 29,284 crore in the year-ago period.
TCS, India's largest IT company, has appointed and approved current TCS chief operating officer and executive director N Chandrasekaran as the CEO and Managing Director-designate.
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With its Mitsubishi JV beginning operations this quarter, analysts expect meaningful revenue addition
Under the eight-year association, TCS will take on the role of Title Sponsor of the New York City Marathon in 2014, the software major said in a statement.
For N Chandrasekaran, managing director and chief executive officer of India's largest information technology services provider, Tata Consultancy Services, the fourth quarter and 2010-11 numbers were one of the best since the industry was hit by the recession.
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TCS previously developed mobile apps for the last year's marathon, helping participants to track runners and to receive race results, information on the event, and tips for training.
Tata Consultancy Services on Monday entered into a five year research and development collaboration with Stanford University of United States for research in the critical area of data privacy.
Largest industry gift to CMU and largest gift from outside US will support new facility and student scholarships
For the entire 2016-17, TCS saw its net profit growing 8.3 per cent to Rs 26,289 crore while revenue was up 8.6 per cent at Rs 117,966 crore
TCS is aiming to add another $10 billion to its turnover in the next five years or so. Which means, the company has to grow at a compounded annual growth rate of 15 per cent. Can TCS pull it off?
India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
Tata Consultancy Services on Tuesday said the company's chief operating officer N Chandrasekaran will succeed S Ramadorai as the CEO and managing director on October 6.
'We have not seen too many large deals compared to last quarter.'
Aptech managing director and CEO Anil Pant died on Tuesday, the company informed in a regulatory filing. "The company regrets to inform about the sad demise of Dr. Anil Pant, Managing Director and CEO of the company on Tuesday, August 15, 2023. Dr. Pant's contribution and energy will be missed by the company. "All the directors and employees of the company convey their deepest condolences to his family," Aptech Limited said in the filing.
Credit Suisse thinks it possible for the company to narrow its forecast ('guidance') range.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
Tata Consultancy Services has acquired 75 per cent equity stake in its Switzerland-based partner, TKS-Teknosoft, from the promoter for Swiss francs 100.5 million (about $80.3 million).
These graduates will have the opportunity to spend a year training and working for TCS at its Innovation Labs and software development centres across India between 2016 and 2020.
Rishad Premji, chairman of IT services major Wipro, saw his compensation for FY23 decline by almost 50 per cent year-on-year, due to a fall in the firm's profit. According to the Form 20-F, filed with the US Securities and Exchange Commission by Wipro, Premji's compensation for FY23 was $951,353, down 50 per cent from $1,819,022 in FY22. "Rishad A Premji is entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of Wipro Limited over the previous fiscal year. However, in light of the fact that the incremental consolidated net profits for fiscal year 2023 was negative, the Company determined that no commission was payable for fiscal year 2023 to Mr Rishad A. Premji," said the company in the filing.
'At any given point in time, we expect only 25 per cent of our workforce will need to be in office.' 'And any given person will only be required to spend only 25 per cent of their time in office.'
TCS reported a 5.8 per cent rise in revenue at Rs 27,165 crore.
The country's largest software exporter Tata Consultancy Services on Monday reported a stellar 72.7 per cent growth in net profit at Rs 6,413 crore for the fourth quarter of last fiscal ended March 31.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Does India's most valued company give hope to its investors that they, too, might drive a Jaguar some day?
CMC has strong presence in the domestic market. It certainly compliments TCS.
TCS had in recent weeks been the subject of reports of a large number of layoffs.
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