It Results

For the local industry to perform, new AI-led services must offset the deflationary impact of AI on the existing revenue stream

Cyclical or Structural? IT majors' slowing growth in FY25 raises tough questions

The $280 billion industry faces multiple issues: clients cutting back after overspending on digital transformation during COVID-19, a cautious global macro, the GCC phenomena, the AI boom, and more recently the US President Donald Trump’s tariff war.

HCLTech cuts FY25 fresher intake to 7,000 from 10,000, cites lower attrition, higher productivity

The company said that the initial figure of 10,000 was a directional plan outlined at the start of the fiscal and that hiring numbers are reviewed quarterly.

TCS Q3 order book grows 26% YoY to $10.2 billion, highest in past five fiscal years

Geographically, demand was led by India market, which grew 70.2 percent YoY in constant currency (CC) terms, followed by MEA at 15 percent, Asia Pacific at 5.8 percent and Latin America at 7 percent.

IT Q3FY25 earnings: From wage hike delays to discretionary spend, five factors to watch

Discretionary spending remains a sore point for IT companies, with clients continuing to prioritise cost-saving projects over large-scale transformation initiatives, say brokerages.

Mixed bag for TCS, Infosys, HCLTech, Wipro in Q2: BFSI sees uptick, large deals contract

According to analysts, the US Federal Reserve’s interest rate cut impact may start baking into discretionary spending plans of customers only by Q4. The customers may also await the US election season to reevaluate plans and be more certain.

LTIMindtree pushes FY25 annual wage hike cycle to Q3

In FY24 too, LTIMindtree had delayed its wage hike cycle, which typically begins in the month of April, to August.

No significant pick up in discretionary spending yet: HCLTech CEO

HCLTech reported $1.96 billion in new deal wins for Q1FY25, a decline sequentially from $2.29 billion reported last quarter.

TCS Q1 results meet estimates: Net profit rises 9% on-year to Rs 12,040 crore; Rs 10 dividend declared

The company reported total contract value of $8.3 billion in Q1, which has declined both on a YoY and sequential basis. In Q4, TCS had witnessed record high quarterly order book of $13.2 billion.

FY25 discretionary spending environment will be similar to FY24: HCLTech CEO

Discretionary spending is expected to increase in the coming quarters, especially around data, as customers focus on generative AI proof of concept projects, says CEO C Vijayakumar.

Record deal wins, margin focus, slashed revenue guidance: How top Indian IT companies fared in Q2

Among the top 5 Indian IT companies, Tech Mahindra was the only firm to report a plunge in operating margins in Q2 though it had a positive net headcount addition and QoQ increase in deal wins.

Wipro's Q2FY24 revenue slides to $2.7 billion, marking third consecutive quarterly decline

For the upcoming quarter, the company expects a revenue decline ranging from -3.5 percent to -1.5 percent.

HCL Tech Q2 preview: Revenue recovery seen amid IT slowdown, business mix to boost growth

The continued impact of cuts in discretionary tech spending is likely to continue to weigh on HCL Tech’s second quarter results. However, a favourable business mix is likely to boost revenue.

Cyient keeps brokerages bullish with 46% rise in Q1 net profit

Cyient stock has given a return 70.67 percent over the last six months.

Infosys headcount shrinks by 6,940 in Q1FY24, employee count declines for second consecutive quarter

Attrition for the quarter continued its downward trend and came in at 17.3 percent, from last quarter’s 20.9 percent.

Wipro sees headcount decline for the third consecutive quarter, ends Q1FY24 with 8,812 fewer employees

Attrition came in at 17.3 percent on a last-twelve-month basis, continuing its downward trend.

India's top 5 IT companies added 83,906 employees in FY23, compared to 2.73 lakh in the previous year

TCS, Infosys, Wipro, and Tech Mahindra have all experienced net headcount reductions during one of the quarters. Wipro and Tech Mahindra have both seen a reduction in headcount for two consecutive quarters – in Q3 and Q4.

Infosys to roll out structure for financial services team as Mohit Joshi leaves

The roles of Ravi Kumar S, who exited the company in October last year, were primarily split between Sathish HC and Dinesh Rao

Infosys logs in disappointing set of numbers for Q4

Infosys also saw a one-time impact on revenue, according to the company's leadership.

HCLTech's attrition rate declines to 21.7% in Q3FY23

The company added 2,945 employees in Q3, taking the headcount to 222,270

Indian IT on a ‘great reset’: JP Morgan sees revenue growth down to 6-8%

While the muted growth in Q3FY22 is likely to be blamed on furloughs, JP Morgan said Q4 will be weak as well, due to macro concerns and delays in decision-making driving flatter tech budgets and delayed deal closures.

Q1FY23 Result | Wipro strikes an upbeat note despite looming concerns

CEO Thierry Delaporte said that despite uncertainties of the macroeconomic environment, there has been no slowdown or pullback of spend.

TCS Results for Q1FY23 | Despite strong deal pipeline, we continue to be vigilant: CEO

In terms of deal wins, the IT services major saw a decline from last quarter -- from $11.3 billion to $8.2 billion. It added nine new clients to the $100 mn-plus band YoY and 19 clients to the $50 mn-plus band.

TCS attrition rises to 19.7% in Q1FY23, 14,136 employees added during the quarter

The company’s headcount as of June 30 is 6,06,331, up from 5.92 lakh employees last quarter.

Watch out! Tech-tonic shifts are taking hold in India

In the current geopolitical environment, it becomes critical to keep track of major geographical revenue contributors