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Top related persons:
Nishit Navin - 1 Varun - 1 Rohit Azad - 1 Azad - 1 Rishad Premji - 1 Sakshi Gupta - 1 Sachin Alug - 1 NLB - 1
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BENGALURU Indian LSEG Bengaluru India Punjab
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Tata Consultancy Services - 2 Thomson - 2 Indian IT - 1 Indian - 1 New - 1 Jawaharlal Nehru University - 1 Wipro - 1 HDFC - 1

Search resuls for: "LTIMindtree"


4 mentions found


☆ India's Coforge posts 16% jump in Q2 revenue, reiterates full-year forecast
  + stars: | 2023-10-19 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, Oct 19 (Reuters) - Indian IT services company Coforge (COFO.NS) on Thursday reported a 16.2% jump in second-quarter revenue and reiterated its revenue growth forecast for fiscal year 2024, aided by new deal wins amid a challenging macroeconomic environment. Consolidated revenue from operations rose to 22.76 billion rupees ($273.4 million) for the quarter ended Sept. 30. Coforge's order intake for the quarter rose to $313 million, from $304 million last year. The company's revenue growth beat peers Tata Consultancy Services (TCS.NS), which missed estimates and LTIMindtree, which posted a smaller 8.2% increase. It, however, lagged behind Persistent Systems (PERS.NS), which posted an 18% growth in revenue and a 20% growth in profit.
Persons: Nishit Navin, Varun Organizations: Indian IT, Indian, Tata Consultancy Services, Thomson Locations: BENGALURU, Indian, LSEG, Bengaluru
☆ India's outsourcing giants cut hiring; disheartening for economy, students
  + stars: | 2023-06-12 | by ( Navamya Ganesh Acharya | ) www.reuters.com   time to read: +7 min
There are pockets of optimism elsewhere in the services sector - especially in accounting, where there is a surge in hiring. NLB sees a 20-25% drop in IT employee additions in the first half of the current financial year, while TeamLease Digital expects a 40% decrease for the entire year. Nasscom declined comment on the hiring slowdown. That has "surely left applicants concerned about future prospects", said staffing firm Xpheno's co-founder Kamal Karanth, who highlighted how current hiring activity was "under a third of what was recorded in the buoyant peak". Pai highlighted sectors such as financial services, consumer goods, specialised manufacturing, medicine, law, chartered accounting and other services as more viable options.
Persons: Rohit Azad, Azad, Rishad Premji, Sakshi Gupta, Sachin Alug, NLB, Nilanjan Roy, Nasscom, Gautam, Xpheno's, Kamal Karanth, LTIMindtree, Karanth, Siana, Siddharth Pai, Pai, Dhanya Skariachan, Raju Gopalakrishnan Organizations: New, Jawaharlal Nehru University, Wipro, HDFC, Apple, Citigroup, American Express, Europe's Credit Suisse, UBS, NLB Services, TeamLease, IT, Tata Consultancy Services, Infosys, Reuters Graphics, Sethuraman, Thomson Locations: BENGALURU, India, Punjab
☆ India's LTIMindtree posts Q4 profit miss as costs rise
  + stars: | 2023-04-27 | by ( ) www.reuters.com   time to read: +1 min
BENGALURU, April 27 (Reuters) - India's LTIMindtree (LTIM.NS) reported a lower-than-expected fourth quarter profit on Thursday as expenses rose and margins shrank, while the industry grappled with falling client budgets and worries of a upcoming recession in the United States. The IT services and consulting firm's consolidated net profit came in at 11.14 billion rupees ($136.18 million) for the three months ended March 31, compared to 11.09 billion rupees year ago. Analysts, on an average were expecting a profit of 11.97 billion rupees, according to Refinitiv IBES data. Bigger rival Wipro Ltd (WIPR.NS) forecast weak IT services revenue, while Tech Mahindra Ltd (TEML.NS) reported a slump in profits. Revenue from operations rose 22% to 86.91 billion rupees.
☆ India's TCS, Infosys have highest exposure to U.S. regional banks - J.P.Morgan
  + stars: | 2023-03-17 | by ( ) www.reuters.com   time to read: +2 min
[1/2] The Infosys logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris HelgrenMarch 17 (Reuters) - Top Indian information technology firms Tata Consultancy Services (TCS.NS) and Infosys (INFY.NS) have the highest exposure to regional banks in the United States that are gripped by a financial turmoil, analysts at J.P.Morgan said on Friday. All three companies might need to set aside provisions in the fourth quarter due to their exposure to SVB, J.P. Morgan said in a note. Indian IT firms draw the bulk of their revenue from the banking, financial services and insurance (BFSI) sector. Within BFSI, their exposure to the U.S. banks is on average 62% and Europe 23%, J.P. Morgan said.
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