INDIAN REVENUE SERVICES
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.
8th year of GST: Friendlier, simpler regime ahead? What the future likely holds
It would be unreasonable to expect very quick results. While concrete outcomes on this agenda are likely to be backloaded within the financial year, clear timelines and a glide path of transition may well emerge sooner.
Ravi Agarwal appointed CBDT chairman effective July 1
Ravi Agarwal has been serving as a member, CBDT (Administration) since, July 2023. According to the order issued by the Appointments Committee of the Cabinet on Saturday Ravi Agrawal, will be chairman of the CBDT, effective, July 1 up to the date of his superannuation on September 30.
Indian financial services sector is experiencing a significant upswing: Inventure Growth & Securities’ Kanji B Rita
India's financial services sector is poised for sustained growth. By leveraging the demographic advantage, embracing technological advancements, and prioritizing financial inclusion, a robust and inclusive financial ecosystem can be built, says Inventure Growth’s Kanji B Rita.
Capital goods companies expected to post 9-11% revenue growth rate in FY25
As per the analysis, operating margin could moderate 80-100 basis points to 12-13% in fiscal 2025 as the market scenario continues to be highly competitive and exports remain sluggish.
Why deal sizes are shrinking for top Indian IT companies
IT service providers are experiencing shrinking average deal sizes to as low as $25 million due to cost efficiencies, GenAI transformation, and shorter tenure projects amid uncertain macro-economic conditions. Despite an increase in large deal volume during FY23, industry analysts report a decrease in the average value of those deals. This comes even though Indian software exporters remain major players on the global stage.
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IT stocks rally up to 4% as an early indicator of Q1 earnings just gave green signals
Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.
How will Indian IT companies perform going ahead? Sandip Agarwal answers
I think we are maybe one or two quarter away from it flowing down to even outsourcing. But because markets are forward looking, you can see a big run up even in the Indian IT services much before the actual numbers come.
Is it a case of ‘no bad news is good news’ for IT companies now? Rahul Jain answers
Rahul Jain of Dolat Capital says that the guidance for the current fiscal has been very weak in the case of the IT companies that give explicit numbers, be it Infosys or HCL Tech. And if they do not surprise positively during the earnings season, all the momentum can gradually fizzle out.
Telco revenues surged to Rs 2.3 lakh crore in FY24: CLSA
The Indian telecom industry's gross revenue surged 87% to Rs 2.39 lakh crore in FY24, driven by the launch of services by Reliance Jio. Jio and Bharti Airtel gained subscribers at the expense of Vodafone Idea. The two top telcos now control 78% of sectoral revenue, expected to rise to 83% by FY26. Vi's revenue market share fell to 15.7%, while Airtel and Jio saw revenue growth, with Jio leading at 41.4% RMS.
Gen Z laps up ethnic fashion brands; Warburg Pincus-Whatfix deal
Happy Wednesday! Ethnic wear brands are gaining prominence among young working professionals and, in the process, attracting investor interest. This and more in today’s ETtech Morning Dispatch.
IT stocks plunge up to 5% on Monday after 8% rally last week. Know how experts view sector!
Nifty IT index fell 2.3% with Coforge and Persistent Systems as top losers, despite Nifty hitting a lifetime high. IT sector has seen recent positive returns but remains a laggard over the quarter.
Electronics cos charged up for big revenue boost, set to double revenues to $55 billion by FY2027
India's EMS industry revenues are projected to double to $55 billion by FY27, driven by local component sourcing. Apple, Samsung, Lenovo, and other global firms are set to expand operations in India.
Unpacking K Krithivasan's first year as TCS CEO
TCS CEO K Krithivasan completed a year in office this month. His term was marked by an unprecedented slowdown in tech demand. The veteran, however, has brought growth and stability for the bellwether. Under his leadership, TCS reached $29.1 billion in annual revenues in the year ending this March, growing at 4.1%.
Wipro bags $500 million deal from US communications provider
The large deal win comes just two months after its new CEO Srinivas Pallia took charge following the resignation of its former chief Thierry Delaporte just seven days into the new fiscal year 2025.
IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
Indian Railways registers highest ever freight loading in May 2024
An official statement said the national transporter carried 139.16 million tonnes (MT) of freight in May 2024. This is 3.6% higher than 134.16 MT loading achieved in May 2023. An official statement said, Rs 15,230.90 crore freight revenue was clocked during May 2024, up from Rs 14,641.83 crore in the same month of fiscal 2023-24.
Energy transition, electrification theme to provide big investment opportunity: Nirav Sheth
We need to look forward to the next big critical event which is budget and I believe that that will set the tone for what India needs to do for the next 5-10 years and I believe that you are likely to see a reasonable level of indirect reforms.
Reliance Jio, Bharti Airtel's returns on investment set to double in 4 years
Macquarie Research estimates Airtel's ROCE (return on capital employed) to surge to 10-19% during FY25-28 from 2-6% in the last more than a decade, aided by tariff hikes, better subscriber mix and capex moderation. Airtel had invested $32 billion in FY24, generating a return of 8%. Over the next four years, while investments will drop to $28 billion per year, returns will likely more than double to 19%, Macquarie data showed.
India Inc exits FY24 on a strong note, clocks double-digit profit growth in Q4
Corporate India saw double-digit growth in net profit and single-digit revenue increase in the March 2024 quarter. Expectations are for healthy growth in the current fiscal year due to peaking interest rates and government policy continuity.
Ola is shifting its IT ops to Krutrim from AWS cloud
This comes two weeks after Ola founder Bhavish Aggarwal snapped ties with Microsoft Azure after LinkedIn deleted his post related to "pronoun illness" of western AI models. Experts, however, say that losing Ola as a customer for AWS and Microsoft is only a needle in the haystack.
Dish TV's Q4 net loss widens 16% to Rs 1989 crore
The direct-to-home (DTH) company's operating revenue declined by 19% to Rs 407 crore, while subscription revenue was down 18% to Rs 320 crore.
Dr Reddy's, Cipla, Sun Pharma & others to see FY25 revenue boost in key US market, says India Ratings and Research
Indian drugmakers, such as Dr Reddy's, Cipla, and Sun Pharma, are projected to maintain revenue growth in fiscal 2025, driven by drug shortages in the U.S. market. With 233 drugs in short supply, Indian companies are poised to benefit from the challenges faced by U.S.-based generic pharma manufacturers, leading to improved financial performance and increased market share in therapeutic categories.
GE Power India Q4 Results: Firm posts Rs 26 crore net profit
GE Power India on Wednesday posted a consolidated net profit of Rs 25.94 crore in March 2024 quarter on the back of higher revenue. The company had reported a loss of Rs 129.70 crore in the quarter ended on March 31, 2023, a BSE filing showed.
TeamLease Q4 Results: Profit rises 14% YoY on general staffing strength
The company said consolidated net profit came in at 274.8 million rupees ($3.30 million) for the three months ended March 31.
Left govt in Kerala enters fourth year, CM says extreme poverty will be eradicated by 2025
Kerala CM Pinarayi Vijayan said that while the Union government fails to fill the numerous vacancies in various Central government establishments, including the Indian Railways and other Central public sector undertakings, the Kerala Public Service Commission stands as a model for the entire country. He promised that the Left government will eradicate extreme poverty in the state in the coming year.
Inflation-wary Fed may put IT revival on hold
Indian outsourcing leaders face delayed business revival until FY26 due to US Federal Reserve's high interest rates. The impact on revenue growth and IT firms' strategies could persist, affecting deals and revenue projections in the sector.
Infosys Jefferies' only IT pick on growth visibility, valuations
Jefferies downgraded its ratings on LTI Mindtree and Coforge to underperform on the back of rising uncertainty in their growth and margin outlooks.
Enterprise demand keeps telcos’ voice channel revenue growing
Despite challenges in personal voice calling revenue for telecom operators, the enterprise sector sees significant revenue from voice channels. With the rise of digital-native businesses in India, voice services like IVR, outbound calling, and contact center telephony remain vital for customer support. Industry experts foresee continued growth in voice communication alongside other digital channels.
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