HCLTECH SECOND QUARTER EARNINGS
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
Facing an unprecedented slowdown, IT companies are undergoing a shift. Here’s what’s changing
IT companies like TCS, HCLTech, Wipro and Tech Mahindra are reorganising their businesses to wade through disruptions and prepare for Gen AI. TCS, under new leadership, merged AI and cloud operations into a unified AI.Cloud unit, responding to growing demand in cloud migration and transformation services.
Diversify your portfolio to gain from post-elections policies: Mahantesh Sabarad
Mahantesh Sabarad, an Independent Market Expert, suggests that the capex theme will be lucrative, particularly for capital goods and industrial goods companies, if the current government continues. This outlook is based on the expectation of a strong emphasis on capex under the incumbent administration.
Indian IT sees deal tenures shrinking in rich neighbourhoods
At least two companies – HCLTech and Birlasoft – have gone on record to say that from the usual 10-12 year deals earlier, long-term arrangements are now ending in four years. Earlier, the tenures ranged between 10-12 years.
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Wipro promotes veterans; Paytm & Nykaa Q4 financials
Happy Thursday! Wipro CEO Srinivas Pallia is betting on internal talent to propel growth. This and more in today’s ETtech Morning Dispatch.
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Paytm Q4 losses tripled; Oyo IPO withdrawn
Troubled fintech Paytm reported its first quarterly earnings after the RBI banned its payments bank in January. This and more in today’s ETtech Top 5.
Fund Manager Talk | Chances of downside surprise in Nifty higher after elections: Viraj Gandhi, SAMCO Mutual Fund
CEO Viraj Gandhi of SAMCO Mutual Fund provides insights on market impact, sector preferences, and future trends including the renewable energy sector's growth in FY25.
Stocks in news: ZEE, Delhivery, Bandhan Bank, JSW Steel, Concord Biotech
ZEE Ltd has reported a net profit of Rs 13.35 crore for the quarter ended March 2024, compared with a loss of Rs 196 crore in the same quarter of last year.
Vodafone Idea Q4 Results: Cons loss widens to Rs 7,675 crore YoY; ARPU rises to Rs 146 from Rs 135
Vodafone Idea Q4 Results: Revenue from operations stood at Rs 10,607 crore against Rs 10,532 crore reported in the corresponding quarter of the last financial year. Its EBITDA for the quarter was reported at Rs 4,336 crore and there was an increase in subscriber base to 12.63 crore versus 12.26 crore in Q4FY23.
MakeMyTrip Q4 Results: Company posts profit of $ 171.9 million up from $ 5.4 million a year ago
MakeMyTrip reported a revenue of $ 782.5 million for financial 2024, up from $ 593 million in fiscal year 2023. The company posted a revenue of $ 202.9 million in the fourth quarter of financial year 2024, up from $ 148.5 million in quarter four of financial year 2023.
NSE to suspend trading in Brightcom Group shares, moves it to Z category
A circular issued by NSE stated that trading in securities of Brightcom Group will remain suspended until the company complies with the above regulation. After 15 days of suspension, trading in the securities of non-compliant companies would be allowed on a trade-for-trade basis in the Z category on the first trading day of every week for six months.
IT sweats to eke out margins on pricing squeeze, staff costs
Indian outsourcing companies face a margin squeeze in FY24 due to a triple threat: aggressive deal pricing, rising employee costs, and the pressure to boost revenue despite tight global budgets. Notably, Tata Consultancy Services (TCS), the industry leader, seems to be the only exception.
Zomato Q4 earnings; Blinkit edges closer to profitability
Food delivery major Zomato reported a lower-than-expected quarterly profit of Rs 175 crore on Monday. Details on this and more in today’s ETtech Top 5.
Digit IPO coming soon; TCS’ Krithivasan earnings
Bengaluru-based insurtech startup Go Digit General Insurance has announced that its IPO will open on May 15 and close on May 17. This and more in today’s ETtech Top 5.
Airbnb shares slide on lower revenue forecast despite a doubling of net income
Earnings growth was partly driven by a shift in the Easter holiday, which came during the first quarter this year versus the second quarter in 2023. Easter is a significant travel holiday.
Uber shares tumble 9% on surprise net loss, weak second-quarter forecast
The report suggests that Uber's growth could be slowing after a strong 2023 in which it dominated the U.S. ride-share market and delivery business and posted its first annual profit.
Uber forecasts gross bookings for second quarter below expectations
Uber projects lower second-quarter gross bookings due to ride-share and food delivery challenges, exceeding core profit expectations. Lyft excels in industry-wide growth and logistics services, while Uber offers a wider range of services globally.
European shares open higher on earnings-driven optimism
The pan-European STOXX 600 was up 0.3%, as of 0720 GMT, to its highest levels in more than one month
Deals, hiring show HCL Tech can tap expected IT bounce
Revenue in the major markets of the US and Europe grew sequentially by 4.2% and 2.3%, respectively, while major business verticals also showed higher revenue. But what sets HCLTech apart from peers is the fact that it continued to add headcount during the quarter.
HCLTech bucks trend again, headcount rises by 2,725 employees
For the full year as well, Noida-headquartered HCLTech added 1,537 employees from overall headcount of 225,944 in March end 2023. Similarly in FY23, HCLTech’s headcount had shown an increase by 3,674 employees.
S&P 500 ends higher as markets weigh rising yields, upbeat corporate results
Tesla jumped 12% after the electric vehicle maker's plans to boost production and roll out more affordable models overshadowed its weak quarterly results.
The Meta-morphosis of Mark Zuckerberg
Mark Zuckerberg, the founder of Meta, has become a more democratized figure in Silicon Valley, as evidenced by his shift from a traditional daily uniform to a more relaxed and experimentative style. This change began in 2021 when Facebook became Meta, and Zuckerberg's first avatar was dressed in a T-shirt and jeans. His transformation began with the introduction of the platform Threads, which allowed him to experiment with different outfits and styles.
Europe emerges as hotspot for Indian IT M&As, tops buy chart
Indian IT giants are on a European shopping spree, snapping up companies at a rapid clip. Europe's booming tech sector, outpacing North America, has fueled over a dozen acquisitions since the Covid pandemic.
Sterling & Wilson Renewable Energy reports Rs 1.40 crore net profit in Q4
Sterling & Wilson Renewable Energy Limited (SWREL) has posted a net profit of Rs 1.40 crore during the quarter ended March 2024 on account of increased income.
IT sector’s challenges persist in Q4; guidance for FY25 in focus
HCLTech and Tata Consultancy Services (TCS) poised to dominate Indian outsourcing industry with expectations of revenue growth acceleration in FY25 driven by higher discretionary expenses and strong deal wins in the US market.
Adobe forecasts downbeat second-quarter revenue
Companies and individuals have shifted focus to cutting costs amid high-interest rates and a tough economy, pressuring growth at the Photoshop software maker that has been investing in AI tools to attract more users.
HCLTech Q3 results preview: Revenue to grow better than peers; company may retain FY24 guidance
The company is seen reporting a nearly 5% sequential rise in consolidated revenue to Rs 27,959.40 cr, and net profit is expected to increase by nearly 7% to Rs 4,085 cr, according to the average of estimates given by 11 brokerage firms.
IT stares at slowest quarterly revenue growth in a decade
The third-quarter results season will begin with TCS and Infosys announcing their results on January 11, followed by HCLTech and Wipro on January 12. The focus this quarter will be the commentary on the demand environment and 2024 budgets.
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