Page 3 - It Firms

Attrition in IT companies likely to stay at 20% over recession fears

Tata Consultancy Services (TCS), in its quarterly results announced on Monday, said that the attrition in Q2FY23 was 21 per cent, it was 19.7 per cent in Q1FY23

A viral tweet explains how Wipro caught its employees moonlighting

Taking a tough stand against those involved in moonlighting, IT services giant Wipro sacked 300 employees in September; here's how they caught the moonlighters

Infosys shares drop 2.6% despite buyback proposal, end at Rs 1,425

The stock underperformed both the Nifty and the Nifty IT index, which fell 1.5% and 2%, respectively

TCS beats Street estimates in Q2, net rises 8.4%; attrition remains high

Net profit has crossed the Rs 10,000-crore mark for the first time

Aug 30 flood in Bengaluru led to a loss of Rs 225 cr: IT firms to CM Bommai

The flood on August 30 which brought parts of Bengaluru to its knees led to a loss of about Rs 225 crore on a single day, the Information Technology and banking companies said in their letter to Chief Minister Basavaraj Bommai seeking his attention to address the "appalling infrastructure" of the city. In a letter to Bommai dated September 1, the Outer Ring Road Companies Association (ORRCA) said half-a-million professionals are employed along the Outer Ring Road (ORR) between Central Silk Board and Krishnaraja Puram corridor. President of the ORRCA Manas Das and vice-president Archana Tayade said this corridor measuring about 17 km provides employment to close to one million people. ORR IT generates revenue of USD 22 billion per annum, which is 32 per cent of Bengaluru's revenue, and is the highest tax contributor, they said. The poor infrastructure on this corridor, however, is bringing down the efficiency and productivity of the companies and putting employee safety and wellbein

IT firms increase scrutiny of employees amid moonlighting trend: Report

IT firms now have started to clamp down on such activities, as the companies think moonlighting affects employees' productivity and creates conflicts of interest

Fresh intake, higher offshoring in IT sector impacting revenue per employee

Adding to this, record number of hiring that the industry did means the bench at companies have gone up.

IT industry's 'people' conundrum may delay its revenue growth targets

The current talent crisis may delay the industry's efforts to move up the value chain by delinking headcount and revenue streams

Cognizant Q2 profit up 12.7% at $577 mn, lowers revenue guidance

Revenue was at $4.9 billion, up 9.5 per cent in constant currency on a year-on-year (YoY) basis

Tech Mahindra net profit falls 16.4% to Rs 1,132 crore in April-June

"We remain resilient and watchful given the dynamic global macroeconomic environment and will continue to invest in new and emerging technologies to deliver differentiated offerings," its MD &CEO said

Infosys disappoints on profit, ups FY23 revenue growth guidance to 14-16%

Its net profit for Q1FY23 was below expectations at Rs 5,360 crore, up 3.2 per cent year-on-year (YoY) but was down 5.7 per cent sequentially

Wipro's Q1 net profit declines 21% over acquisitions, talent cost

Despite a below-expectation showing, IT major expects double-digit growth in FY23

Mindtree Q1 net profit increases 37% at Rs 472 cr; revenue rises 36%

On Mindtree-L&T Infotech merger, the management said that the merger is on track

Mindtree starts FY23 with strong growth and record order book: CEO

"We are excited to report a strong start to FY23 with robust revenue growth, solid margin, and a record order book, demonstrating our continued industry-leading growth momentum," said Mindtree CEO.

Sensex slips 372 points, Nifty below 16K; Reliance, HDFC twins sink 2%

The BSE Sensex fell 372 points at close to 53,514. The index had previously risen 325 points to the day's high.

HCL Q1FY23 result tomorrow: Here's how company performed in last 4 quarters

The company is expected to post a revenue growth of 2.9 per cent QoQ on a constant currency basis, brokerage firms predicted

TCS beats street estimates with 16.2% Q1 revenue growth; margins disappoint

The consolidated revenue of the IT major grew to Rs crore in the quarter under review from Rs 45,411 crore a year ago

Our biz is only B2B, we may get into B2C: N Ganapathy Subramaniam of TCS

In a Q&A, the COO of India's top IT services firm speaks about the company's wish list beyond numbers, concerns on slowing growth commentary from brokerages that has pulled the stock down

Indian firms log on to Metaverse, from jewellery brand to IT giants

It's not just Facebook: more and more companies are keen to offer customers and employees the joys of working and playing in the virtual world.

Big firms versus intra-India variation

Each firm needs to choose how to respond to the enormous variation of locale within India