Most new CFOs were internal candidates, signalling the managements trust in their own ranks. Two CFOs switched to a new IT company, while the others retired or left to pursue otheropportunities.
Tier-II IT firms stock performance to remain subdued, mirror Tier-I companies thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Weak tech spending by telcos could put IT revival on hold livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.
The software services company’s revenue for the March quarter fell 1.3% sequentially to $1.07 billion, from $1.08 billion in the quarter ended December 2023. The IT company’s full-year revenue came in at $4.29 billion, up 4.4% from $4.11 billion a year ago.
IT companies cumulative wage cost rose by Rs 18,036 crore in the fiscal year. Experts said this was due to continuity in lateral hiring in high-demand areas such as AI, machine learning, and cloud and engineering services, coupled with the salary increments, even though they are in the lower single digits.