Page 11 - Information Technology

India has potential to create Aatmanirbhar secured internet, says ITI forum

India now has the potential to create its own secured internet by setting up a root server locally for less than Rs 10 crore, according to state-run ITI and industry platform IPv6 Forum.

Cyient reports 12% fall in net profit to Rs 95 crore for Dec quarter

IT firm Cyient on Thursday reported a 11.9 per cent decline in net profit at Rs 95.4 crore for the December 2020 quarter. The Hyderabad-based company had posted a net profit of Rs 108.3 crore in the year-ago period, Cyient said in a regulatory filing. Its revenue decreased 5.6 per cent to Rs 1,044.3 crore for the period under review as against Rs 1,106 crore in the third quarter of 2019-20, it added. On sequential basis, net profit was higher by 13.8 per cent from Rs 83.9 crore, while revenue was higher by 4.1 per cent from Rs 1,003.3 crore in September 2020 quarter. "PAT increased by 13.8 per cent quarter-on-quarter primarily from higher other income (Rs 126 million) partially offset by higher tax from higher profits and increase in finance charges," it said. In dollar terms, Cyient's revenue was at USD 141.4 million, up 4.7 per cent q-o-q and a de-growth of 8.9 per cent year-on-year, it said. "Q3 FY21 results are in line with our expectations, we recorded a revenue of USD 141.4

L&T Technology Services third quarter net profit falls 8.8% to Rs 186.1 cr

Larsen & Toubro Technology Services (LTTS) on Wednesday posted an 8.8 per cent decline in consolidated net profit to Rs 186.1 crore for the December 2020 quarter. The company had registered a net profit of Rs 204.1 crore in the year-ago period, it said in a regulatory filing. Its revenue fell 1.6 per cent to Rs 1,400.7 crore in the quarter under review from Rs 1,422.9 crore a year ago, it added. On a sequential basis, the net profit was higher by 12.4 per cent from Rs 165.5 crore, while revenue increased 6.6 per cent from Rs 1,313.8 crore in the September 2020 quarter. "Our Q3 results marked another quarter of resilient performance with growth in revenue, deal wins, operating margin and free cash flow. All five of our industry segments grew sequentially, while three segments - Industrial Products, Plant Engineering and Telecom & Hitech grew over 5 per cent," LTTS CEO and Managing Director Keshab Panda said. Large deal bookings were the highest ever, helped by the marquee USD ..

Most Indian IT firms to post high single-digit growth in 2021: Balakrishnan

The year 2021 will be good for India's information technology sector and most of the companies in the space are expected to clock high single digit growth, said industry veteran V Balakrishnan

Banking on Budget: Hope and reforms amid pandemic and fiscal deficit

The government has taken laudable steps to support and propel the economy in these difficult times, but a lot more still needs to be done, writes Vikas Vasal

IT sector's return to office will be gradual, not 100% in 2021

Information technology companies' return to office in 2021 will be gradual with no perceptible change by end of March

IT sector likely to get a booster shot as firms plan to spend more

IT spending is expected to get a further boost as a majority of the clients would reprioritise spending to strengthen digital capabilities

Amazon to up the ante by venturing into quantum computing; lays groundwork

Amazon has been hiring for a Quantum Hardware Team within its Amazon Web Services Center for Quantum Computing

Infosys gains 4%, nears record high amid report Co may win Daimler deal

The deal involves transferring of 500-600 Daimler employees to the information technology (IT) firm, the report said.

Software Technology Parks of India to launch a VC fund to support start-ups

This scheme will support around 300 start-ups for the next three years by offering Rs 25 lakh risk capital and Rs 10,000 internship per startup

Saw a 30% bump in internet traffic during pandemic: VP, Tata Communications

Hard to predict if this growth will sustain but don't expect a lot of this increased traffic to decline, says Song Toh, VP, Tata Communications

TCS surpasses Accenture to become most-valuable IT services firm globally

At the last closing price of Rs 2,825, TCS was valued at $144.73 billion, (Rs 10.6 trillion), while Accenture is currently at $142.4 billion

Happiest Minds IPO opens today. Key things to know before you invest

The net proceeds of the offer will be utilised to meet the long term working capital requirement of the company.

Happiest Minds Technologies' IPO a good chance to ride digital wave

Sturdy profitable growth potential led by 97% digital revenue share justifies valuation

Covid-19 may trigger third wave of outsourcing for Indian IT industry

Goldman Sachs report says that more technology roles likely to move to India

Covid-19 likely to impact 5% IT employees in India, take away 200,000 jobs

The Indian IT and BPM sector employs around 4.4 million people, directly and indirectly. Every year, around 2-3 per cent of the employee base get impacted owing to performance related issues

TCS may see slower revenue growth, profitability over 12-18 months: S&P

"We now expect TCS' revenue to rise 0-1 per cent in the fiscal year ending March 31, 2021, compared with growth of 5.3 per cent in fiscal 2020," it said

IT firms roll out solutions to help clients return to office smoothly

WFH-themed solutions aimed at cost saving and better employee management for clients

Parliament panel summons Facebook on Sept 2 as hate speech debate grows

A day before, representatives of ministries of communications and home have been called before the panel

Impact investors switch focus to agriculture, health and education

47% of the $10.7 bn invested between 2010 & 2019 has come in last two years