It Services Industry

Eyeing level playing field to cater to nation's aspirations: Priyank Kharge

The minister for IT and biotechnology and rural development and Panchayat Raj, government of Karnataka, said the state should get its share of such opportunities as it is a hub for IT services exports

Why are Indian IT service providers not tapping into the domestic market?

While the 'Make in India' initiative has boosted domestic smartphone manufacturing, the $200 billion Indian IT services industry remains focused on international markets over the domestic one

Q2 results: Slow growth bottoming out in the top five IT companies

The Bengaluru-based firm for the second consecutive quarter upped its guidance. It now expects FY25 revenue to grow in the range of 3.75-4.5 per cent. From the earlier 3 - 4 per cent

Wipro Q2FY25 results: Net profit rises 21% to Rs 3,201 cr, revenue down 1%

Revenue for the March quarter was marginally down by 1 per cent from the year-ago period to Rs 22,300 crore

Indian IT services industry to deliver 4-6% revenue growth in FY25: ICRA

The Indian IT services industry is likely to register a second consecutive year of muted revenue growth, estimated at 4-6 per cent in FY2025, but the operating profit margin is expected to be healthy, according to ICRA. The persisting challenges and tepid topline growth notwithstanding, ICRA has forecast the industry's operating profit margin (OPM) at a healthy about 22 per cent in FY2025, with attrition levels having declined considerably and seen stabilising over the near term. Despite expectations of continued subdued growth, ICRA has maintained its "stable outlook" on the Indian IT services industry, led by a well-established business position, expectation of healthy earnings and cash flow generation, and strong balance sheets of sector players. "ICRA expects FY2025 to be the second consecutive year of muted revenue growth (for its sample set companies), estimated at 4-6 per cent, given the lower discretionary technological spends by clients amidst persistent macro-economic ...

Happiest Minds sees need for strategy alignment as customers turn cautious

For Happiest Minds, Q1FY25 was one of the best in terms of growth since the company got listed in September 2020

US recession fears hyped, but any slowdown may impact India's economy

The US economy expanded 2.8 per cent in the second quarter and 1.4 per cent in the first quarter of 2024

Nasscom urges govt to have simple and single interpretation on compliance

Nasscom was reacting to the Rs 32,400 crore goods and services tax (GST) demand from India's second-largest IT services firm, Infosys

Tech outage: Airlines rush to get back on track after global tech disorder

Transport providers, businesses and governments on Saturday are rushing to get all their systems back online after long disruptions following a widespread technology outage. The biggest continuing effect has been on air travel. Carriers cancelled thousands of flights on Friday and now have many of their planes and crews in the wrong place, while airports facing continued problems with checking in and security. At the heart of the massive disruption is CrowdStrike, a cybersecurity firm that provides software to scores of companies worldwide. The company says the problem occurred when it deployed a faulty update to computers running Microsoft Windows, noting that the issue behind the outage was not a security incident or cyberattack. Here's the Latest: Britain's transport system still trying to get back on track LONDON Britain's travel and transport industries are struggling to get back on schedule after the global security outage with airline passengers facing cancellations and de

Q1 Preview: Infosys to lead IT-pack, may see profits rise up to 10% YoY

Infosys is expected to lead the tier 1 Indian IT universe with the strongest growth, led by ramp-ups of multiple mega-deals, and a low base effectively providing one per cent kicker to June 2024

Cognizant settles CFO lawsuit with Wipro; pays Rs 4 crore in settlement

The settlement resolves all pending disputes between Dalal and Wipro, said the company in a statement

Fresher hiring in India's IT sector tumbles to two-decade low: Xpheno

HR analysts and college placements offices that Business Standard spoke to said fresher hiring by the top five IT firms has been the lowest in this financial year so far

Wipro's AI adoption in existing projects up 140%: COO Sanjeev Jain

Earlier this week, Wipro launched its Lab45 AI platform, which leverages GenAI, machine learning, and deep learning technologies to help companies increase efficiencies

Top IT firms report headcount drop amid weak demand, delayed deal cycle

Major Indian IT companies like TCS, Infosys, and Wipro saw a significant drop in employees during FY24 due to reduced client budgets and delayed deal cycles

GCCs, 3rd-party IT service providers driving demand for workspace: Report

International companies outsourcing jobs to India have become a major driver of office demand in the country with global capability centres and third-party IT service providers contributing 46 per cent to the total leasing of workspace during 2023, according to Knight Frank. Real estate consultant Knight Frank, in its latest report 'Asia Pacific Horizon: Harnessing the Potential of Offshoring', noted that the offshoring industry in India has grown significantly into a leading global service provider, accounting for 57 per cent of the global offshoring market. The consultant explained that the offshoring market involves companies outsourcing business processes or services to external providers located abroad, aiming to leverage cost savings, specialised skills, and operational efficiencies. The offshoring market, also known as Business Process Outsourcing (BPO), encompasses various models such as Global Capability Centres (GCCs) and Global Business Services (GBS). GCCs are internal

TCS expands presence in Brazil with new delivery centre in Londrina

Tata Consultancy Services employs around 1,700 professionals in Londrina and will be generating more than 1,600 new jobs through this centre

Wipro promotes 31 staff to senior roles after top-level exodus: Report

The promotions, seen by industry watchers as a move to stem senior-level attrition, came after a series of high-profile exits at the country's No.4 software services exporter

IT services companies' GenAI investments likely to soar this year

Clients in the Asia-Pacific (APAC) region are expected to treble their investments in GenAI, although they currently lag behind their North American counterparts

Mukund Rao joins engineering services firm Xoriant as prez, global markets

Prior to joining Xoriant, he was the Chief Business Officer of Banking, Financial Services at LTIMindtree

Mobile manufacturing to hit $50 billion in FY24: Ashwini Vaishnaw

Overall, electronic exports from the country stood at $15.77 billion in FY24. In the previous year, this was $28 billion