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Wage costs in IT giants inch up in Q4

Livemint

Livemint · 1y ago

Wage costs in IT giants inch up in Q4

Tata Consultancy Services (TCS), Infosys, and Wipro, three major Indian IT companies, have seen an increase in employee wage costs as a percentage of revenue in the March quarter. Wipro had the highest burden, with 61.4% of revenue going towards employee benefits. TCS reported a slight increase from 57.3% to 57.4%, and Infosys allocated 53.8% to employee costs. Despite the rise, the employee costs-to-revenue ratio was lower than previous quarters, likely due to headcount reductions. Recruiters expect the reduction in employee strength and associated cost savings to continue, while the focus on AI and generative AI is also evident in the industry.

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Banking sector Q4 preview: PSU Banks to post better earnings than private banks

Livemint

Livemint · 1y ago

Banking sector Q4 preview: PSU Banks to post better earnings than private banks

The fourth quarter of FY24 is expected to be challenging for the banking sector due to factors like net interest margin pressure, slower deposit growth, and cost pressures related to wage hikes and pension provisions. PSU banks are projected to outperform private banks in terms of earnings growth, driven by lower credit costs. The report suggests that the NIM pressure and funding costs are likely to persist in Q4 FY24. PSU banks like SBI are considered top picks due to their earnings stability and growth prospects. Overall, NII growth is estimated to be around 8.3% YoY for the banking coverage universe in Q4 FY24.

Wage cost of IT firms eases

Livemint

Livemint · 1y ago

Wage cost of IT firms eases

India's leading IT services companies have seen a decline in employee costs as a percentage of revenue for the second consecutive quarter, indicating efforts to control spending on talent. Companies like Wipro, TCS, HCL Technologies, and Infosys have reduced their wage burden, signaling a shift towards an employers' market. However, the current figures still exceed those from a year ago. Recruiters expect further reduction in employee costs as companies tighten their campus hiring initiatives. Despite attrition rates reaching a two-year low, IT firms continue to lose talent to global capability centers (GCCs).

Paytm may remove 5,000-6,300 employees, says report

Business Today

Business Today · 1y ago

Paytm may remove 5,000-6,300 employees, says report

Paytm, facing growing losses, plans to cut 5,000-6,300 jobs to save Rs 400-500 crore. In FY23, it had 32,798 employees, with 29,503 actively working. Employee costs rose by 34% year-on-year to Rs 3,124 crore. The company's net loss was Rs 550 crore in Q4. Despite challenges, Paytm aims to optimize costs and achieve profitability by FY26.

Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%

Entrackr

Entrackr · 2m ago

Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%

Electric two-wheeler maker Ather Energy has announced its financial results for the fourth quarter of FY25. The company reported a 29% year-on-year jump in its operating revenue compared to Q4 FY24. Ather’s revenue from operations increased by 29% to Rs 676 crore in Q4 FY25, from Rs 523 crore in Q4 FY24, according to its consolidated quarterly report sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), Ather Energy’s operating revenue increased 29% to Rs 2,255 crore in FY25 from Rs 1,754 crore in FY24. The company’s cost of materials, driven primarily by battery and component procurement, increased by nearly 16% to Rs 564 crore in Q4 FY25 from Rs 488 crore in the same period last year. Employee benefit expenses saw a decline of 29% YoY to Rs 109 crore in Q4 FY25 compared to Rs 154 crore in Q4 FY24. Depreciation and amortization costs rose 18% to Rs 45 crore, while other operational costs jumped nearly 47% to Rs 204 crore. Overall, Ather’s total expenditure grew 13% to Rs 922 crore in Q4 FY25, up from Rs 819 crore in Q4 FY24. For the full financial year ending March 2025, total expenses rose to Rs 3,117 crore as against Rs 2,674 crore in FY24. As a result, the company’s net losses reduced by 17% to Rs 234 crore in Q4 FY25 from Rs 283 crore in Q4 FY24. On a fiscal basis, its net losses came down 23% to Rs 812 crore in FY25 from Rs 1,060 crore in FY24. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSE—2.18% above its issue price of Rs 321. However, the stock closed the day at Rs 300. On Monday, it rose 2.8% to trade at Rs 308.7 before market close, bringing its total market capitalization to Rs 11,497 crore ($1.34 billion). Ather's competitor Ola Electric, which saw a nearly 20% decline in operating revenue during Q3 FY25, has yet to file Q4 results.

Unicommerce’s revenue grows 70% in Q4 FY25

Entrackr

Entrackr · 2m ago

Unicommerce’s revenue grows 70% in Q4 FY25

E-commerce enablement SaaS platform Unicommerce continued its growth trajectory over the last quarter, reporting a 73% increase in revenue and 18% jump in profit. The company’s revenue from operations rose to Rs 45 crore in Q4 FY25 from Rs 26 crore in Q4 FY24, according to its financial statement sourced from National Stock Exchange (NSE). For the full fiscal year ending March 2025, Unicommerce’s revenue rose 31% to Rs 135 crore. Including other undisclosed income, its total income for Q4 FY25 grew to Rs 46 crore, up from Rs 27.7 crore in Q4 FY24. On the expense front, employee benefits remained steady at Rs 16 crore in Q4 FY25. Server hosting costs declined 28% to Rs 1 crore from Rs 1.4 crore, while depreciation and amortization rose to Rs 4 crore. Finance costs stood at Rs 1.5 crore during the quarter. Overall, Unicommerce’s total expenses for the quarter increased 71% to Rs 41 crore from Rs 24 crore in Q4 FY24. Annually, total expense increased to Rs 116 crore in FY25 from Rs 92 crore in FY24. At the end, the Gurugram-based firm reported a 16.4% spike in its profit to Rs 3.35 crore in Q4 FY25 as compared to Rs 2.88 crore in Q4 FY24. On a fiscal basis, the company’s profit increased 34.3% to Rs 17.6 crore in FY25 from Rs 13.1 crore in FY24. Since its public listing in August 2024, Unicommerce has seen significant growth in market capitalization, which now stands at Rs 1,321 crore. As of May 5, its share price closed at Rs 128, up from the listing price of Rs 108. The stock reached its 52-week peak of Rs 264 in August last year.

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%

Entrackr

Entrackr · 1m ago

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6%

Delhivery reports Rs 70 Cr profit in Q4 FY25; revenue jumps 6% Logistics company Delhivery announced its Q4 FY25 results on Friday, reporting a 6% year-on-year increase in revenue. The Gurugram-based firm also reported a profit of Rs 72 crore during the same period. Delhivery’s revenue from operations grew to Rs 2,191 crore in Q4 FY25, according to its financial statements filed with the National Stock Exchange (NSE). For the full fiscal year (FY25), Delhivery’s operating revenue increased 10% to Rs 8,932 crore in FY25 from Rs 8,141 crore in FY24. Delhivery's primary revenue sources were its logistics services, including warehousing, last-mile logistics, and designing and deploying logistics management systems. The firm also earned Rs 112 crore from non-operating activities, bringing its total revenue to Rs 2,303 crore in Q4 FY25. Meanwhile, for the full fiscal year, total income reached Rs 9,372 crore. For Delhivery, freight handling and servicing costs made up 70% of its total expenditure, rising by 3% to Rs 1,566 crore in Q4 FY25. Employee benefit expenses decreased by 6% to Rs 337 crore. Legal, depreciation, and other overhead costs contributed to a minor decrease in overall expenditure, which reached Rs 2,249 crore during the quarter. For the full financial year ending March 2025, the firm’s total expenses rose to Rs 9,217 crore as against Rs 8,825 crore in FY24. Delhivery's continued growth and controlled expenditure resulted in a profit of Rs 72 crore in Q4 FY25, compared to a loss of Rs 68 crore in Q4 FY24. On a fiscal basis, it turned profitable and reported a net profit of Rs 162 crore in FY25 as compared to a loss of Rs 249 crore in FY24. At the close of today’s trading session, Delhivery’s share price stood at Rs 321 per share, giving the company a market capitalization of Rs 23,957 crore.

TCS puts April salary hikes on hold, cites economic uncertainty, tariff concerns

Business Today

Business Today · 3m ago

TCS puts April salary hikes on hold, cites economic uncertainty, tariff concerns

Tata Consultancy Services (TCS) delayed its annual salary hike, initially planned for April, due to macroeconomic uncertainties and concerns over the US tariff environment. Despite the hold on wage increases, TCS will maintain quarterly variable payouts, with 70% of employees receiving full eligible variable pay, while others will see payouts based on business performance. In its Q4 results, TCS reported a 2% profit decline to Rs 12,224 crore and announced a Rs 30 dividend.

Infosys to roll out wage hikes to employees from November 1

Money Control

Money Control · 1y ago

Infosys to roll out wage hikes to employees from November 1

Infosys, India's second-largest IT company, has announced that it will be implementing wage hikes for its employees from November 1. The company usually provided hikes in April for non-senior management and in July for senior management, but the timing has been delayed this year. Meanwhile, other IT majors such as Tata Consultancy Services and Wipro have already rolled out wage hikes or have plans to do so. Infosys' decision comes amid a decline in headcount and an ongoing effort to increase utilisation.

Will delivery fleets drive EV scale in India?

Inshorts · 2m ago

Will delivery fleets drive EV scale in India?

EV adoption in B2C might be gradual, but logistics fleets are moving faster. For delivery giants, electric vehicles offer lower running costs and help meet sustainability targets. As fleet demand grows, it creates the ecosystem momentum personal users benefit from next. This early commercial uptake also drives investment in charging infrastructure, accelerating readiness for mass adoption.

Best phones under ₹30,000 in July 2024: OnePlus Nord 4, Poco F6, and more

Livemint

Livemint · 12m ago

Best phones under ₹30,000 in July 2024: OnePlus Nord 4, Poco F6, and more

We have curated a list of the top smartphones available under ₹30,000 this month. The OnePlus Nord 4 offers a 6.74-inch AMOLED display, Snapdragon 7+ Gen 3 chipset, and up to 12GB of RAM. The iQOO Neo 7 Pro features a 6.78-inch AMOLED display, Snapdragon 8+ Gen 1 chipset, and up to 12GB of RAM. The Poco F6 has a 6.67-inch AMOLED display and Snapdragon 8s Gen 3 chipset. The Realme GT 6T offers a 6.78-inch AMOLED display, Snapdragon 7+ Gen 3 chipset, and up to 12GB of RAM. The Infinix GT 20 Pro features a 6.78-inch AMOLED display and MediaTek Dimensity 8200 Ultimate chipset.

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