Indian outsourcer Infosys has agreed to pay US$34 million to the U.S. to resolve all allegations about the misuse of visas to get Indian staff to work in the U.S.
Indian outsourcer Infosys said its use of B-1 visas in the U.S. was for legitimate business purposes and was not designed to circumvent the requirements of the H-1B visa program.
Indian outsourcer Infosys saw profit decline even as revenue grew in the third quarter, as a result of an increase in salaries and a provision for a visa investigation in the U.S.
Indian outsourcer Wipro grew revenue and profits in the second quarter, citing improved demand.
Tata Consultancy Services reported strong revenue and profit growth in the second quarter as demand for its services picked up in key markets like the U.S. and Europe.
Infosys posted strong revenue growth in the second quarter as demand picked up in key markets including the U.S.
Satyam Computer Services, the Indian outsourcing company hit by an accounting fraud in 2009, has been merged with parent Tech Mahindra.
Indian outsourcer Wipro reported slow revenue growth in its IT services business, reflecting a continued volatility in the outsourcing market.
Indian outsourcer Infosys saw its profit drop even as revenue grew in the first quarter, as margins were hit by staff salary increases, and investments and acquisitions by the company in new technology areas and markets.
Indian outsourcer Tata Consultancy Services has agreed to settle a class action lawsuit by paying US$30 million to employees deputed for work in the U.S. from India.
Wipro's fourth-quarter IT services revenue grew 4.8 percent year on year, reflecting an overall recovery in offshoring to India.
Tata Consultancy Services had strong revenue and profit growth in the fourth quarter, indicating that the offshoring market is recovering.
Revenue at Infosys grew in the fourth quarter, but profit fell as a result of a wage rise and investments in newer businesses.
The number of new IT and business process outsourcing contracts worldwide dropped year-on-year in the third quarter, with contract values also decreasing, a research firm said.
Wipro has decided to move its non-IT businesses out of the company to give it a higher focus on IT services, it said Thursday.
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