Banking software maker Oracle Financial Services Software, formerly known as iflex, reported strong year-on-year numbers characterized by robust revenue growth and strict control over costs, however revenue slipped on a sequential basis. Consolidated revenue for the quarter was Rs. 1190 Crore, up 12% compared to quarter ended September 30, 2016 and down 1% compared to […]
Tata Consultancy Services said it inaugurated the first phase of Thane delivery center that will have the capacity to seat 30,000 employees when fully developed, which will make it the largest in Mumbai. The company, which has a huge operation in Vikhroli in the city, said it will eventually consolidate its Mumbai operations at the […]
HCL Infosystems, the India-focused IT arm of HCL Group, said it received a tax demand of Rs 312.34 cr plus interest and an amount equal to the interest amount as penalty. The company, which is already struggling with losses, did not specify the amount of interest involved or the year to which the dues relate. […]
Ramco Systems said First Balfour, one of the largest construction and engineering firms in the Philippines, has deployed its ERP software to manage its entire business operations. “Deployed over nine months, Ramco ERP Suite has enabled First Balfour automate and streamline its equipment rental management, inventory, supply chain and asset management, along with finance, accounting […]
Online classifieds company Just Dial said its app was downloaded an average of 23,871 times per day during the three months ended September. This was nearly thrice the number of app downloads during the same three months of 2016, showing the impact of the company’s TV campaign. Just Dial has an aggressive TV campaign to […]
IT services provider Cognizant seemed all set to clock the upper end of its full-year guidance for calendar year 2017, raising the lower-end of its forecast once again. The company, which had changed its revenue growth forecast for 2017 to 9-10% from 8-10% last quarter, further fine-tuned it to 9.5%-10.0% this time. It now expects […]
IT services provider Tech Mahindra Ltd reported a 3.7% sequential jump in Q2 revenue and a 4.7% jump in net profit. Revenue increased to Rs 7,606 crore, up 6.1% YoY, while net profit increased to Rs 836 crore, up 29.7% YoY. Revenue in dollar terms was up 3.6% QoQ at $1,179.2 mln; up 10.0% YoY. […]
Google has opened its first data center for third-party cloud services in India at Mumbai. This will enable developers to host their applications, websites and other IT projects within India, enabling faster response times for their customers in the country. Before this, the closest location was Singapore. Google offers various services, such as virtual servers, […]
HCL Technologies, one of the top five Indian IT services companies, said it has tied up with Red Hat — the biggest open source software company — to offer Linux-based virtual infrastructure for companies. Under the product, clients will be able to lease cloud computing infrastructure from HCL that are more efficient that traditional cloud […]
Tata Consultancy Services, the country’s largest exporter of services, said it has successfully implemented a cloud transformation of Malaysia Airlines, making it the world’s first full-service airline to migrate fully to the cloud. Cloud transformation refers to the replacement of packaged software — which is installed at users’ computers — by a single copy or […]
Indian IT companies will continue to struggle to maintain growth rates and their margins will continue to fall in line with the trend seen in the last few quarters, credit rating agency ICRA said. The rating agency predicted a sharp decline in revenue growth rate from about 17.1% per year in the last five years […]
Continuing the trend of IT outsourcing companies topping up their digital practice with targeted acquisitions, Cognizant said it agreed to acquire Zone, a digital agency specializing in customer experience, digital strategy, technology and content creation. The transaction is expected to close in the fourth quarter of 2017, subject to satisfaction of certain closing conditions, it […]
IT company Wipro Ltd said it increased its stake Drivestream, which focuses on implementing Oracle’s cloud solutions, to 43.7% from 26.1% by investing around Rs 26 cr. Wipro had first invested in the company about four months ago, and seems to have liked what it saw. It made the latest investment by converting some of […]
Nandan Nilekani, the stand-in chairman of Infosys Ltd today gave his stamp of approval to the investigations conducted in the context of corruption allegations around the IT company, and suggested that the company and its founder Narayana Murthy will be able to develop a ‘trusting relationship’ going forward. “I am fully persuaded, as is the […]
Infosys said its Q2 revenues grew sequentially by 2.9% in USD terms and 2.2% in constant currency terms. It said for the year, revenues are expected to grow 5.5%-6.5% in constant currency, which is lower than its previous guidance. Three months ago, it had maintained sales growth guidance at 6.5-8.5% on a constant-currency basis for […]
Cloud-based enterprise software provider Ramco Systems said it won a multi-million dollar order from a big British MNC financial group to provide managed payroll services. Ramco will help the company, part of the FTSE 100 index, to consolidate its payroll operations in 14 countries on a unified platform. It will cover 8500+ employees across Asia […]
Mid-sized IT services provider Persistent Systems reported 4.5% sequential USD revenue growth and 4.6% rupee revenue growth for the September quarter. On a year-on-year basis, dollar revenue rose 12.3%, while rupee revenue was up 8.1%. Operating profit, however, was up only 4.5% on year, but because of the poor performance in the preceding quarter, rose […]
Tata Consultancy Services Ltd, the country’s largest IT services exporter, reported revenue largely in line with expectations, while net profit fell slightly. Revenue was 30,541 cr, up 4.3% on year. Dollar and constant currency numbers have not yet been revealed. Operating margin was 25.1%, up 1.7%, but still below historical averages. Net profit was up […]
Mid-sized IT services provider Cyient reported revenue growth of 6.7% on quarter to $150.1, an increase of 10.0% on year. Out of this, services revenue accounted for $134.3 Mn, up 4.2% on quarter and 9.2% on year. Operating profit jumped 21.5% on quarter to Rs 21.41 bln. Earnings grew 26.9%to at 21.11 bln. “Q2 FY18 […]
Tata Elxsi, the hardware design company from the Tata stable, has tied up with Unity Technologies to set up a center that will develop solutions based on the Unity visualization engine. The Unity platform is arguably the most widely used engine for developing mobile phone games and can also be used to develop 2D and […]
