Vallari Sanzgiri

Jan 17, 2025 | thehindubusinessline.com | Vallari Sanzgiri

Even as Indian IT services companies are bouncing back in terms of revenue growth, hiring continues to be in the slow lane. Employee numbers have grown only marginally for IT companies with TCS and Wipro reporting net decline in employees during the third quarter. TCS CEO K Krithivasan, attributed the changes in headcount to seasonality. He said that there is no sequential correlation to a company’s growth and hiring although there may be some correlation on a long-term basis.

Jan 17, 2025 | thehindubusinessline.com | Vallari Sanzgiri

Tech Mahindra’s net profit dropped 21 per cent sequentially at ₹983 crore in the December-ending quarter while adjusted profits excluding land sale proceeds in the previous quarter rose 11.5 per cent driven by new deal wins. Revenue was almost flat at ₹13,285 crore and EBITDA rose by 3.4 per cent on a quarterly basis to ₹ 1,809 crore. On a yearly basis, profit increased by 92 per cent, revenue increased by 1.4 per cent and EBITDA rose by 57.8 per cent.

Jan 17, 2025 | thehindubusinessline.com | Vallari Sanzgiri

Tech Mahindra’s net profit dropped 21 per cent sequentially at ₹983 crore in the December-ending quarter while adjusted profits excluding land sale proceeds in the previous quarter rose 11.5 per cent driven by new deal wins. Revenue was almost flat at ₹13,285 crore and EBITDA rose by 3.4 per cent on a quarterly basis to ₹ 1,809 crore. On a yearly basis, profit increased by 92 per cent, revenue increased by 1.4 per cent and EBITDA rose by 57.8 per cent.

Jan 17, 2025 | thehindubusinessline.com | Vallari Sanzgiri

Six months after the cyberattack that shook the cryptocurrency space in India, WazirX exchange announced the freezing of the first tranche of stolen assets worth around $3 million. This means that the investigating entities have identified the stolen funds, bringing the victims one step closer to recovering their assets. On July 18, WazirX experienced a cyberattack that led to theft of digital assets exceeding $230 million. The incident severely affected India’s confidence in the crypto ecosystem.

Jan 17, 2025 | thehindubusinessline.com | Vallari Sanzgiri

India should prioritise startups in the forthcoming Budget and has government should start by easing the tax norms on employee stock option plans (ESOPs), said Dr Ajai Chowdhry, Founder of HCL and Chairman of the Mission Governing Board of the National Quantum Mission of India on January 16, 2025, the National Startup Day. “The removal of the angel tax was a welcome move by the Government and was celebrated by the startup community. However there is more that needs to be addressed.