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Tag: IT sector India

  • Coforge Q1 revenue up 21 laptop to Rs 150 cr

    IT firm Coforge on Friday posted 21.1 per cent improve in consolidated revenue after tax at Rs 149.7 crore within the first quarter ended June 30, 2022.

    The firm had registered a revenue of Rs 123.6 crore in the identical interval a yr in the past.

    The gross income of Coforge elevated by 25.2 per cent to Rs 1,829.4 crore throughout the reported quarter, from Rs 1,461.6 crore within the June quarter final yr.

    The fifth deal within the final 5 quarters with a TCV (whole contract worth) larger than USD 50 million was signed throughout this quarter.

    “The size and velocity of large deals, including a USD 100 plus million deal, sets us up for continued robust growth. Equally importantly, it helps us further enhance our offshore operations helping us build strong moats around margin defence,” Coforge chief govt officer Sudhir Singh mentioned.

    Company’s whole order guide executable over the following 12 months stood at USD 745 million (about Rs 5,953 crore).

    Global headcount of the corporate elevated to 22,742 as of June 30, 2022 from 22,500 on the finish of March 31, 2022 whereas attrition on the firm stood at 18 per cent.

  • When the chips had been down, IT sector saved issues operating: PM Modi

    Prime Minister Narendra Modi on Wednesday referred to as upon Indian startups to create world class merchandise which set international benchmarks in excellence, and never simply concentrate on valuations or exit methods. Addressing the Nasscom Technology and Leadership Forum by way of digital convention, the Prime Minister mentioned that startups should create establishments that may outlive this century.
    “Think how you can create world class product that will set the global benchmark on excellence. There can be no compromise on these twin goals for without them, we will always be a follower, and not a global leader,” Modi mentioned.
    “When the chips were down, your code kept things running. When the entire country was bound to the four walls of their homes, you kept running the industry smoothly from home. The numbers for the last year may surprise the world, but it would be very natural for most people in India considering the capabilities of the sector,” Modi added.

    At its annual strategic evaluation for 2020-21, Nasscom mentioned it expects an annual development of two.3 per cent to $194 billion for India’s IT and IT enabled companies (ITeS) sector. The business physique mentioned exports by the IT and ITeS sector would contact $150 billion, a 1.9 per cent on-year development, and contributed about 8 per cent to the gross home product (GDP).
    “At a time when everyone was expecting a de-growth, then if the IT industry adds $4 billion to its revenue, it is worth praise and everyone deserves congratulations. The IT industry has proven why it is a strong pillar in India’s growth,” Modi mentioned, including that each one numbers confirmed that development momentum of the sector would proceed.