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Big IT expects growth momentum to continue in September quarter 2024 India’s software service providers are expected to report slightly better results for the second quarter, with analysts believing the momentum from the previous three months to have picked up amid a revival in deals in the banking and financial services vertical and an improvement in business sentiment in North America. Infosys and LTIMindtree are likely to lead the large players in revenue growth for the July-September quarter, while Coforge and Persistent Systems are expected to outperform most others in the mid-tier pack, according to several analysts. They expect the demand outlook of companies to be largely similar to that after the fiscal first quarter. Market leader Tata Consultancy Services will kickstart the results season on October 10, followed by HCLTech, the third largest, on October 14. Second and fourth largest players, Infosys and Wipro, will announce earnings on October 17. #tech #bigcompanies #growth #Ittech #India

Let’s decode how the leading IT titans are performing in their latest annual report analytics: • Revenue and ROE Race: Tata Consultancy Services leads with a 59.4% return on equity (ROE) on ₹2,40,893 crore revenue. Infosys follows at 32.1% ROE on ₹1,53,670 crore. Wipro, with the lowest ROE at 15.13%, reports a revenue of ₹89,794 cr. • Profitability Highlights: TCS takes the lead with a net profit (PAT) of ₹46,099 crore. Infosys follows with ₹26,248 crore, while Wipro records a PAT of ₹11,045 cr. • AI Strategies: Infosys focuses on generative AI for digital transformation, TCS uses AI for innovation and sustainability, and Wipro emphasizes its AI-first ecosystem, Wipro ai360, to drive growth across various sectors. Stay updated with the latest market insights and analysis from Needl.ai. #Needlai #IT #TCS #Infosys #Wipro #FinancialHealth #Innovation #Growth #Income #Revenue #PAT #ROE #FinancialAnalysis #AIAnalytics #AnnualReports #BSE #StockMarket #Investment #AIsummarization #FY24

𝗜𝗻𝗳𝗼𝘀𝘆𝘀 𝗖𝗘𝗢 𝗦𝗮𝗹𝗶𝗹 𝗣𝗮𝗿𝗲𝗸𝗵'𝘀 𝗣𝗮𝘆 𝗜𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝘀 𝟭𝟳% 𝘁𝗼 $𝟳.𝟵 𝗠𝗶𝗹𝗹𝗶𝗼𝗻 𝗶𝗻 𝗙𝗬 𝟮𝟬𝟮𝟰 Infosys CEO Salil Parekh's compensation rose 17.3% to 662.4 million rupees ($7.9 million) in FY 2024, driven by increased stock options exercised. His fixed pay was 74.7 million rupees, with 197.5 million rupees in bonuses and incentives. Despite the slowest revenue growth in Infosys's history, Parekh remains one of the highest-paid Indian IT CEOs. In comparison, TCS CEO earned 253.6 million rupees, the lowest among top Indian IT firms. #finance #news #Infosys #CEO #ITIndustry Source:- https://lnkd.in/dnAQgixs

Indian IT Industry is facing a slowdown for the second consecutive year in 2024-25 , a report from CRISIL says. The results from 3 biggies in the industry , reverberate exactly the same, with TCS and Infosys logging single digit revenue growth in FY 2024 compared to FY2023 with former clogging 4.1% and the latter 1.1%. Wipro's growth has declined yoy by 4.4% this fiscal. Due to high inflation, non easing interest rates, West Asian Crisis , now Iran- Israel tensions, the forthcoming fiscal too will face tighter discretionary spends from customers is what one could easily fathom. To the surprise, while NA based revenues shrunk marginally for the biggies, UK, Europe and India based revenues have grown considerably with clinching few larger deals. While this may not be directly taken as face value for the whole industry , it is clear that NA market pipelines will prove to be challenging in FY25 and seeking other markets and revisiting the old customers would provide worthy for mid to large IT service organizations. With respect to Indian market , TCS has its India revenues grow 20% yoy which is just 5% of the overall revenue in FY24. For Infosys its the whole APAC , MEA markets that the company is looking at to improve numbers. While the biggies have muscle to clinch larger deals to keep the momentum going in India, for the mid size IT organizations , Indian market is always going to be competitive in terms of margins. With the attrition easing and new recruitments deferred , cost pressures would be considerably which would help retain the right talent in FY25. With AI shifting demand landscape and the economic, political factors impact, Indian IT service industry is definitely up for a test in FY25 where agility on alignment would determine the demand. #IndianIT #Economy #ServiceIT #Results

DECODING SUCCESS LTIMindtree Limited (formerly known as Larsen & Toubro Infotech Limited) (‘the Company’) offers extensive range of IT services like agile, analytics and information management, application development, maintenance and outsourcing, enterprise solutions, infrastructure management services, testing, digital solutions, and platform-based solutions to the clients in diverse industries. The Company is a public limited company incorporated and domiciled in India and has its registered office at L&T House, Ballard Estate, Mumbai – 400 001, Maharashtra, India. The Company’s equity shares are listed on the National Stock Exchange of India Limited and BSE Limited in India. LTI Mindtree has demonstrated commendable financial performance when compared to its industry counterparts. Through a meticulous analysis of key financial metrics, it becomes evident that LTI Mindtree has not only maintained robust revenue growth but has also exhibited strategic financial management. In contrast to competitors, the company's profitability ratios, such as net profit margins, showcase a competitive edge. LTI Mindtree's ability to adapt to market dynamics, innovate, and efficiently allocate resources has positioned it favorably within the industry. This performance comparison underscores the company's resilience and strategic prowess in navigating the challenges of the competitive landscape. The financial Highlights of the company: *Company is expected to give good quarter *Company has delivered good profit growth of 31.7% CAGR over last 5 years *Company has a good return on equity (ROE) track record: 3 Years ROE 31.6% *Company has been maintaining a healthy dividend pay-out of 39.2% *Company's median sales growth is 15.2% of last 10 years. *Stock is trading at 9.09 times its book value *Promoter holding has decreased over last 3 years: -5.67% #financialmanagement #ltimindtree #financialperformance Indira School of Business Studies Dr. Amrita Karnawat

Ravi Kumar S, CEO of Cognizant, received a $22.5 million compensation package for fiscal year 2023, as reported in the company's latest SEC filing. Kumar, who became CEO in January 2022 after serving as president at Infosys, led Cognizant through a challenging year with a slight revenue decline of 0.3% to $19.4 billion due to weak IT sector demand. The CEO's compensation contrasts sharply with that of the average employee, with a ratio of 1647:1 in India and 556:1 globally. This disparity, along with deferred employee pay raises, has caused dissatisfaction among the workforce. Kumar's compensation included significant one-time awards upon his appointment. Meanwhile, Cognizant CFO Jatin Dalal's target direct compensation was $5.2 million for 2023, but his actual reported compensation was lower due to his later start date. #Cognizant #RaviKumar #CEOPay #Compensation #SECfiling #ITSector #EmployeeWageGap #CorporateGovernance #ExecutiveCompensation #CognizantFinancials #cxolanes

IT Q1 Results In Focus - What to Expect from India’s Tech Giants 1. Revenue Growth: - Infosys and LTIMindtree might show solid sequential growth. - ICICI Securities tags Persistent Systems as the standout, with Infosys and TCS trailing. - AI and BFSI sectors are showing promise, though AI spending is thinning other IT budgets. 2. Discretionary Spending: - Stabilizing but don’t expect a spending spree. Clients remain cautious, with AI being the hot focus. - Wipro is leading in AI activities. 3. Gen AI Deal Pipeline: - Generative AI is the new hype. TCS, Infosys, and Wipro report strong demand. - BFSI, healthcare, and retail sectors are keen on Gen AI. Accenture’s $900 million in Gen AI bookings is eye-catching. 4. Hiring Outlook: - Cautious hiring amid economic uncertainties. Focus on filling critical roles rather than expanding. - Top five IT firms shed around 70,000 employees in Q4 FY24. Lateral hires for niche skills are in demand. 5. Deal Wins: - Large cost-takeout deals expected to drive growth, but this could be one of the weakest first quarters in a decade. - Infosys and HCLTech bounced back in Q2 after weak Q1FY24 contract values. Nomura thinks Q1FY25 will mark the bottom for sluggish revenue growth in the Indian IT sector. Are we on the brink of revival or just another false dawn? Stay tuned. #ITResults #IndianTech #AI #GenAI #HiringTrends #DealWins #DiscretionarySpending #RevenueGrowth

The first Indian company to be listed on NASDAQ Recently I read a book biography of Mr.Narayana Murthy, here I've pointed out some information that helps entrepreneurs. Every Entrepreneur dreams of making the company stand in the global market. But they are struggling to do that. Here is one real example of how a company achieved that. → Industry Experience   ↳ Before founding Infosys, Mr. Narayanamurthy gained valuable experience working at the Patni system, where he learned a lot about various industries. → Building a Team   ↳ Narayanamurthy carefully selected a group of like-minded individuals, including Nandan Nilekani, N. S. Raghavan, S. Gopalakrishnan, S. D. Shibulal, K. Dinesh, and Ashok Arora, to join him in starting Infosys. → Financial Support   ↳ Sudha Narayanamurthy played a crucial role by continuing her job at the TATA Group, which provided financial stability to Infosys in its early days. → Overcoming Technological Challenges:   ↳ In the beginning stage, Infosys faced obstacles like waiting three years to get their first computer and using public telephones for client communication. But they persisted and pushed through. → Innovation and Hard Work:    ↳ Starting from small apartments in Pune, Infosys showed dedication and innovation, delivering exceptional service to its clients. → Recognition and Success:    ↳ After ten years of hard work, Infosys finally gained recognition in the market. In 1993, it made history by becoming the first Indian company to be listed on NASDAQ. #SMDC #webdevelopment #2To2000Employees #ClientSuccessIsOurTrueSuccess

TCS boss K Krithivasan is the lowest earner among all CEOs heading large Indian IT companies. Yep, the man claiming to lead the largest (6 lakh) AI-ready employees is earning less than his own Chief Operating Officer (COO). He made Rs 25.36 crore from basic salary, benefits, perquisites and allowances, and commission in 2023-24 while COO N G Subramaniam made Rs 26.1 crore. He’ll be retiring from TCS this month Out of which he received a commission of Rs 21 crore per TCS’ annual report. The compensation does not include the employee stock purchase scheme (ESPS). He holds around 11,232 stocks in the company. TCS has been training employees in AI skills to support clients' work in AI-integrated projects. CEO Krithivasan discussed the company's future during the TCS Blitz in Abu Dhabi and shared initiatives to revitalise strengths, address gaps and capture new business opportunities. In FY22-23, Infosys’ CEO Salil Parekh earned the most amongst IT company CEOs – at Rs 56 crore annual remuneration package. This was followed by the newly appointed Wipro CEO Srinivas Pallia, whose annual remuneration package is approximately Rs 50 crore. Despite leading a large AI-ready workforce, Krithivasan also warned BPO employees that AI might kill their jobs this year. “As we build on this momentum, I have no doubt that together we will unlock many new opportunities,” he said. According to Moneycontrol, TCS won't replace Subramaniam. His duties will be distributed among top leadership. CEO Krithivasan thanked him for his contributions and mentorship, wishing him the best for his future. He added that Subramaniam leaves behind TCS's culture of client-centricity. #startuppedia #startup #tcs #tcsceo #tcsemployees

Bengaluru : Slowdown in IT industry and subsequent underperformance of IT stocks in the bourses have led to a dip in number of crorepati employees in Infosys and Wipro. Check out here for full story : https://lnkd.in/g3_HBHCm #Bengaluru #ITIndustry #Infosys #Wipro #StockMarket #EconomicSlowdown #ITStocks #EmployeeWealth #CorporateNews #FinancialNews #Investment #TechIndustry #bizzbuzz #bizzbuzznews