Page 71 - Tcs News Today

In what could be a shot in the arm for Byjus, Manipal Education and Medical Group chairman Ranjan Pai may invest as much as $250-300 million in Aakash Institute, a subsidiary of the troubled edtech firm. This and more in todays ETtech Morning Dispatch.

India Business News: BENGALURU: TCS’s headcount dropped by 6,333 in the September quarter.

Tata Consultancy Services Ltd. key Products/Revenue Segments include Consultancy Income and Sale of Equipment & Software Licences for the year ending 31-Mar-2023

According to Peter Bendor-Samuel, chief executive of IT research firm Everest Group, tech services may be impacted in the short to medium term as the conflict raises safety concerns and many of the people employed in Israel may be called up to fight.

In effect, 70 percent of the company’s workforce will receive full variable pay.

From the Sensex pack, IndusInd Bank, Tata Motors, SBI, NTPC, and Axis Bank opened with gains, while TCS, Tech Mahindra, Bajaj Finance, and Bharti Airtel opened with cuts.

IT major TCS reported 9% growth in its net profit to Rs 11,342 crore. The Board has also approved a buyback proposal worth Rs 17,000 crore at Rs 4,150 apiece.

Infosys is seen reporting a 1.4% sequential rise in consolidated revenue in the September quarter to Rs 38,472.4 crore, according to the average of estimates given by nine brokerage firms. But on a year-on-year (YoY) basis, it is seen rising 5.3%.

Revenue rises 8% but remains flat QoQ; CEO Krithivasan underlines demand slump

“While we maintain margins at a portfolio level, at a deal level, we might take strategic calls and we might choose to go aggressive. That is the strategic call I was mentioning and in the project lifecycle, margins would differ as I had mentioned,” says Samir Seksaria. He also says "we are monitoring the macro situation on a month-on-month basis and currently on the month-on-month basis."