MUMBAI/BANGALORE (Reuters) – IT outsourcing company iGate Corp(IGTE.O: Quote, Profile, Research) said it had sacked its chief executive, Phaneesh Murthy, for not disclosing a relationship with a subordinate after investigating one of the industry’s best-known executives for sexual harassment.

Murthy had led several initiatives to improve the performance of the Fremont, California-based company, including charging clients for business results instead of man hours, the billing method more commonly used by IT outsourcing firms.

MUMBAI/BANGALORE (Reuters) – IT outsourcing company iGate Corp said it had sacked its chief executive, Phaneesh Murthy, for not disclosing a relationship with a subordinate after investigating one of the industry’s best-known executives for sexual harassment.

Murthy had led several initiatives to improve the performance of the Fremont, California-based company, including charging clients for business results instead of man hours, the billing method more commonly used by IT outsourcing firms.

MUMBAI/BANGALORE (Reuters) – A breach of security at two payment card processing companies in India that led to heists at cash machines around the world has reopened questions on the risks of outsourcing sensitive financial services to the Asian nation.

Global banks that ship work to be processed in India, either in-house or to big IT services vendors, were already under pressure to step up oversight of back-office functions after a series of scandals last year.

MUMBAI/BANGALORE (Reuters) – A breach of security at two payment card processing companies in India that led to heists at cash machines around the world has reopened questions on the risks of outsourcing sensitive financial services to the Asian nation.

Global banks that ship work to be processed in India, either in-house or to big IT services vendors, were already under pressure to step up oversight of back-office functions after a series of scandals last year.

BANGALORE/MUMBAI (Reuters) – The openness that made IT services outsourcer Infosys Ltd(INFY.NS: Quote, Profile, Research) an investor darling has come back to haunt it.

For years, Infosys was an industry bellwether for not just giving revenue and earnings guidance but usually exceeding it, making it an outlier in a country where very few companies offer guidance and corporate transparency is often lacking.

BANGALORE/MUMBAI, April 25 (Reuters) – The openness that
made Indian IT services outsourcer Infosys Ltd an
investor darling has come back to haunt it.

For years, Infosys was an industry bellwether for not just
giving revenue and earnings guidance but usually exceeding it,
making it an outlier in a country where very few companies offer
guidance and corporate transparency is often lacking.

BANGALORE (Reuters) – Wipro Ltd (WIPR.NS: Quote, Profile, Research), India’s third-largest software services provider, forecast on Friday weaker-than-expected revenue for the June quarter, including a possible decline in revenue.

Wipro, whose customers include Citigroup Inc and Apple Inc, projected first-quarter revenue for its IT services business to be in a range of $1.58 billion to $1.61 billion – a decline of 0.6 percent to a rise of 1.6 percent over the previous quarter. That compares with a rise of 1 to 4 percent that analysts were expecting.

BANGALORE, April 19 (Reuters) – Wipro Ltd, India’s
third-largest software services provider, forecast on Friday
weaker-than-expected revenue for the June quarter, including a
possible decline in revenue.

Wipro, whose customers include Citigroup Inc and Apple Inc,
projected first-quarter revenue for its IT services business to
be in a range of $1.58 billion to $1.61 billion – a decline of
0.6 percent to a rise of 1.6 percent over the previous quarter.
That compares with a rise of 1 to 4 percent that analysts were
expecting.

BANGALORE (Reuters) – HCL Technologies Ltd, India’s fourth-biggest software services provider, beat analysts’ estimates with a 73 percent rise in quarterly profit after winning orders and reducing staff for the second quarter in a row.

Net profit rose to 10.4 billion rupees ($193 million) in its fiscal third-quarter ended March 31 from 6 billion rupees in the year-earlier period, said HCL Technologies, whose customers include Finnish mobile phone maker Nokia Oyj.

BANGALORE (Reuters) – HCL Technologies Ltd(HCLT.NS: Quote, Profile, Research), India’s fourth-biggest software services provider, beat analysts’ estimates with a 73 percent rise in quarterly profit after winning orders and reducing staff for the second quarter in a row.

Net profit rose to 10.4 billion rupees in its fiscal third-quarter ended March 31 from 6 billion rupees in the year-earlier period, said HCL Technologies, whose customers include Finnish mobile phone maker Nokia Oyj(NOK1V.HE: Quote, Profile, Research).