Harichandan's Feed
Oct 17, 2013

HCL Tech revenue growth lags peers, but profit soars

BANGALORE (Reuters) – HCL Technologies (HCLT.NS: Quote, Profile, Research), India’s No. 4 IT services exporter, reported quarterly revenue that grew at a slower pace than that of its rivals, sending its shares lower though profit beat market expectations by rising 64 percent.

HCL relies heavily on contracts to manage data centres and networks for revenue growth, whereas peers Tata Consultancy Services Ltd (TCS.NS: Quote, Profile, Research) and Infosys Ltd (INFY.NS: Quote, Profile, Research) earn a greater proportion of revenue from higher-margin software services.

Oct 17, 2013

India’s HCL posts revenue growth that lags peers but profit soars

BANGALORE, Oct 17 (Reuters) – HCL Technologies,
India’s No. 4 IT services exporter, reported quarterly revenue
that grew at a slower pace than that of its rivals, sending its
shares lower though profit beat market expectations by rising 64
percent.

HCL relies heavily on contracts to manage data centres and
networks for revenue growth, whereas peers Tata Consultancy
Services Ltd and Infosys Ltd earn a greater
proportion of revenue from higher-margin software services.

Oct 15, 2013

TCS may boost workforce after profit leap

MUMBAI/BANGALORE (Reuters) – Tata Consultancy Services (TCS)(TCS.NS: Quote, Profile, Research), India’s largest IT services exporter, is considering accelerating its hiring plans after beating quarterly profit expectations on increased demand from financial clients and in Europe.

Companies such as TCS have stepped up efforts to increase their market share in continental Europe in recent years to reduce dependence on the United States, which is by far the biggest market for India’s $108 billion IT services industry.

Oct 15, 2013

India’s Tata Consultancy may boost workforce after profit leap

MUMBAI/BANGALORE (Reuters) – Tata Consultancy Services (TCS)(TCS.NS: Quote, Profile, Research, Stock Buzz), India’s largest IT services exporter, is considering accelerating its hiring plans after beating quarterly profit expectations on increased demand from financial clients and in Europe.

Companies such as TCS have stepped up efforts to increase their market share in continental Europe in recent years to reduce dependence on the United States, which is by far the biggest market for India’s $108 billion IT services industry.

Oct 11, 2013

Infosys Q2 net misses f’cast; revenue outlook improves

BANGALORE (Reuters) – Infosys(INFY.NS: Quote, Profile, Research), India’s second-largest software services exporter, posted quarterly profit that missed analyst estimates on a charge related to visa use in the United States, but raised the lower end of its fiscal full-year revenue guidance.

The results were the first for a full quarter since co-founder Narayana Murthy came out of retirement on June 1 to be executive chairman after two years of mostly disappointing earnings that saw the long-time industry bellwether lose ground to rivals.

Oct 11, 2013

Infosys profit lags on visa charge; revenue outlook improves

BANGALORE (Reuters) – Infosys (INFY.NS: Quote, Profile, Research, Stock Buzz), India’s second-largest software services exporter, posted quarterly profit that missed analyst estimates on a charge related to visa use in the United States, but raised the lower end of its fiscal full-year revenue guidance.

The results were the first for a full quarter since co-founder Narayana Murthy came out of retirement on June 1 to be executive chairman after two years of mostly disappointing earnings that saw the long-time industry bellwether lose ground to rivals.

Oct 8, 2013

Indian IT outsourcers want a bigger byte out of Europe

BANGALORE, Oct 9 (Reuters) – India’s IT outsourcers, long
bit players in continental Europe, are looking to win over more
people like Hans-Petter Aanby.

Aanby is chief information officer of Scandinavian Airlines
System, which recently awarded Tata Consultancy
Services (TCS) a five-year contract worth over $160
million as part of its effort to halve information technology
costs and reduce local IT staff by 70 percent by 2015.

Sep 13, 2013

India lures chip makers, says IBM and STMicro interested

NEW DELHI/BANGALORE (Reuters) – Two consortiums, including IBM and STMicroelectronics, have proposed building semiconductor wafer plants in India costing a total of $8 billion, a minister said after the government approved concessions to lure chipmakers.

India, which wants local production of chips to cut long-term import bills, has renewed a drive to attract investments after a previous attempt failed.

Aug 28, 2013

Infosys Americas head, seen as CEO contender, resigns

BANGALORE (Reuters) – Infosys Ltd’s Americas head and global manufacturing chief, Ashok Vemuri, has resigned in the most high-profile exit since co-founder Narayana Murthy returned to the company to reverse two years of floundering growth.

Vemuri, a board member, was widely considered a contender to succeed chief executive S.D. Shibulal, another of the company’s seven co-founders, when his term ends in mid-2015.

Jul 26, 2013

Wipro signals demand pick-up after profit rise

BANGALORE (Reuters) – Wipro (WIPR.NS: Quote, Profile, Research), India’s third-largest software services exporter, sounded upbeat about demand for its outsourcing services, after posting an 11 percent rise in quarterly net profit helped by an increase in large contracts.

The company expects revenues from IT services business for the current quarter that ends September 30 will range between $1.62 billion and $1.65 billion, a sequential increase of 2 percent to 3.9 percent.

    • About Harichandan

      "Harichandan Arakali is a technology reporter with Reuters News, covering the IT outsourcing industry and the companies that have come to define it the most. When not chasing a story that might give him the next big-picture fix on outsourcing, Hari loves long walks, taking in the vanishing acts of the trees of his adopted home, Bangalore, while listening to Rashid Khan or KT Tunstall on his BlackBerry, depending on his mood."
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