K KRITHIVASAN EARNING
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%.
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.
TCS CEO K Krithivasan’s remuneration at Rs 25 crore in FY24
K Krithivasan Earnings FY 24: In FY24, Tata Consultancy Services (TCS) CEO and MD K Krithivasan's total remuneration was Rs 25.2 crore, a decrease from former CEO Rajesh Gopinathan's Rs 29.16 crore in FY23. N G Subramaniam, the COO and ED at TCS, who is retiring this month, drew a total compensation of Rs 26.1 crore in FY24.
TCS has one of world's largest AI-ready workforces, says CEO K Krithivasan
IT services major Tata Consultancy Services (TCS) is equipped with one of the largest and most AI-ready workforces in the world, chief executive officer K Krithivasan told employees in an email at the start of the new fiscal.
Binny Bansal, CaratLane’s Sacheti back Xeed Ventures; decoding fintech’s AMC biz
Xeed Ventures, an early-stage fund run by Sailesh Tulshan, which was formerly known as 021 Capital, has also roped in Premji Invest as an LP. The investment committee (IC) for Xeed will consist of Tulshan, Bansal and Sacheti. Xeed is aiming to make a final close of Rs 600 crore and has already snagged 70% of the target corpus, according to people in the know.
Not participating in India would be a big miss: TCS CEO K Krithivasan
TCS anticipates growth in India with a recent BSNL deal. CEO Krithivasan focuses on new markets and expresses optimism about future IT industry demand. The company's strategic deal approach and high margins drive continued success amid market challenges.
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TCS Q4 Results: Profit rises 9% YoY to Rs 12,434 crore, beats estimates
TCS Q4 Results: Revenue from operations increased by a marginal 3.5% year-on-year (YoY) to Rs 61,237 crore. On a sequential basis, profit after tax jumped 12%, compared with Rs 11,058 crore clocked in the preceding December quarter. Revenues were up 1% quarter-on-quarter (QoQ).
TCS chief says no cutting down on hiring; but wants to end work from home
The statement comes amidst a report that the software industry is going soft on hiring as demand falters from their key markets and some of them are even going back on their campus offers.
TCS and Infosys log muted sales growth
At the post-results briefings, senior executives at Infosys and TCS said there were few signs of recovery in global demand for technology services, which has been buffeted by macroeconomic and geopolitical uncertainty for nearly two years now.
TCS Q3 Results Preview: Revenue, PAT likely to see muted growth; demand outlook critical
TCS Q3 Results Preview: In constant currency terms, most analysts expect TCS to see flat to a little over 1% growth in revenue sequentially. But there are a few brokerages like Nomura and BNP Paribas who foresee a decline in revenue. Most analysts have considered revenue contribution from the BSNL project in their topline estimates.
Muted Q2 show from Wipro, LTIMindtree; PhonePe FY23 revenue surges
Two major Indian IT companies — Wipro and LTIMindtree — posted subdued earnings for the second quarter. While Wipro’s consolidated net profit rose marginally, that of LTIMindtree dipped. This and more in today’s ETtech Top 5
TCS Q2 net profit up 9%, announces Rs 17,000 crore share buyback
Revenue rises 8% but remains flat QoQ; CEO Krithivasan underlines demand slump
TCS Q2 Results: Profit rises 9% YoY to Rs 11,342 crore, beats estimates
The board has recommended a second interim dividend of Rs 9 per share. The board has also approved buyback of shares worth Rs 17,000 crore at Rs 4,150 apiece.
Hefty pay! Top CEOs of IT companies earn up to Rs 82 cr in FY23
Wipro CEO Thierry Delaporte took home a remuneration of $10 million or Rs 82.2 crore during FY23. Delaporte is also the highest-paid CEO among his IT peers in FY23. During FY23, the shares of Wipro fell nearly 38%, while it saw its PAT dip by 7% during the same period.
TCS CEO on jobs scandal, $2 billion deal cancellation & more; Byju’s announces key appointments
OK, Tata. A day after India’s largest tech company Tata Consultancy Services (TCS) kicked off the earnings season with subdued numbers, CEO & MD K Krithivasan sat down with ETtech, talking about everything from the latest recruitment scandal in the company to macroeconomic indicators. This and more in today’s ETtech Morning Dispatch.
New CEO on priorities and demand outlook for TCS post Q1 results
“We see a lot of opportunities in vendor consolidation, cost and optimisation as they focus on efficiencies. The large deals that we have lined up augurs well for the coming quarters. We need to see where the opportunities are and execute them well and deserve what we deliver in Q2 and Q3, says COO NG Subramanian”
IT earnings off to a good start in Q1; Nazara says GST impact minimal
India’s top software exporter Tata Consultancy Services kicked off the earnings season with a forecast-beating double-digit growth in Q1 net profit, while HCLTech posted an 8% YoY growth in consolidated net profit to Rs 3,534 crore. This and more in today’s ETtech Top 5.
Robust demand boosts TCS in slowing sector
The Mumbai-headquartered company earns more than 80% of its revenues from Western markets and the results reflect tough global conditions for the industry in what is usually a strong reporting quarter.
TCS Q1 Results: Profit rises 17% YoY to Rs 11,074 crore, beats estimates; revenue up 13%
While the net profit was above the ET Now poll of Rs 10,890 crore, the revenue was tad lower than the estimated Rs 59,500 crore. Sequentially, the topline rose a mere 0.4%, making this the slowest growth in 12 quarters for the country’s largest software exporter. The profit declined nearly 3% from the March quarter.
Former TCS CEO Rajesh Gopinathan's salary saw muted growth in FY23
"TCS has done well in a volatile global environment in the year gone by," chairman N Chandrasekaran wrote in a letter to the shareholders. In FY 2023, TCS delivered a growth of 17.6%, at an industry-leading operating margin of 24.1%, he added.
IT stocks plummet on weak earnings; Blinkit to shut some stores in Delhi-NCR permanently
Following lower-than-expected earnings numbers in the fourth quarter (Q4) of FY23 and a weak guidance for the ongoing financial year from two of India’s IT heavyweights — Infosys and TCS — IT stocks sank deep in the red during Monday’s trading session.
TCS Q4 Results: Profit jumps 15% YoY to Rs 11,392 crore; dividend declared at Rs 24/share
TCS Q4 Results: Both the top and bottomline figures were below Street estimates. At a board meeting, TCS also announced a final dividend of Rs 24 per share.
TCS reports weaker than expected Q4 numbers; flags pain in North American market
Outgoing CEO & MD Rajesh Gopinathan told reporters on Wednesday that the fourth quarter numbers were “definitely weaker-than anticipated.”
TCS Q4 results preview: What to expect and 6 things for investors to track
TCS' press releases and certain media reports have indicated several deal wins in the quarter including a few mega deals. Kotak expects strong deal wins of over $10 billion for the quarter, assuming normal renewal component while Jefferies has forecast large deal wins in the $2-2.5bn range supported by larger deals amidst slower decision making.
TCS to kickstart Q4 earnings season on April 12, consider final dividend for FY23
"A meeting of the Board of Directors of Tata Consultancy Services Limited is scheduled to be held on Wednesday, April 12, 2023, to approve and take on record the audited standalone and consolidated financial results of the Company under
Meet TCS’ new boss K Krithivasan: soft spoken and non-flashy
Ray Wang, founder of IT research firm Constellation Research, said Krithivasan has had “a lot of success with large deals, productisation and delighting customers”.
Rajesh Gopinathan steps down as TCS CEO; Krithivasan appointed new chief
The timing of the announcement of the resignation isn’t good when investor sentiment has already been soured by the global banking crisis. One may see a kneejerk negative reaction on the stock on Friday, but market insiders believe it won’t have a lasting impact given there is 6 months time for the transition process to take place.
TCS CEO Rajesh Gopinathan unexpectedly resigns, K Krithivasan to take over; e-pharmacies look to make a case to health ministry
Under Gopinathan's tenure the IT services major's share rose over 160%. His resignation will be effective on September 15, 2023.
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