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.
Tata Consultancy Services on Friday reported strong revenue and profit growth in the third quarter, citing a pick-up in discretionary spending by customers.
Online professional network LinkedIn has set up a technology center in India that will focus on engineering and operating the company's products and systems.
Tata Consultancy Services (TCS) has bagged a £1.37 billion (US$2.2 billion) business process outsourcing order from Friends Life, a provider of pensions, investments, and insurance, it said in a filing to Indian stock exchanges.
India's second-largest outsourcer, Infosys, reported strong revenue and profit growth for the quarter ended Sept. 30, despite concerns about economic problems in its key markets in the U.S. and Europe.
Economic problems in the U.S. are likely to lead to cuts in IT budgets, of up to 10 percent in some cases, according to a report released Monday by Offshore Insights, a research and advisory firm in Pune, India.
Personal data sent to India by customers outsourcing work to companies in the country will not be covered under new rules governing the collection of such information, the government said on Wednesday, providing relief to India's large outsourcing in...
To those who know their IT outsourcing history, GE and offshoring are practically synonymous.
India's National Association of Software and Service Companies (Nasscom) said Monday that an economic slump in the U.S. will benefit Indian outsourcers, as U.S. customers look to cut costs.
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