information technology

According to the company, for FY23, it had earned a revenue of Rs 53,290 crore (FY22 Rs 44,646 crore) and a net profit of Rs 4,857 crore (Rs 5,630 crore). The Board, at its meeting on Thursday, has recommended a final dividend of Rs 32 per share, taking the total dividend for FY23 to Rs 50 per share.

Also, Aadhaar-enabled e-KYC rose by 16 per cent as 21.47 million Aadhaars were updated successfully in March 2023. While a majority of the authentications transaction numbers were carried out by using biometric fingerprint, it is followed by demographic and OTP authentications, official sources said.

In March alone, employers announced 89,703 cuts in March, up 15 per cent from the 77,770 announced in February, according to the report by global outplacement and business and executive coaching firm Challenger, Gray & Christmas. It is up 319 per cent from the 21,387 cuts announced in the same month in 2022. "March's total marks the third time this year when cuts were higher than the corresponding month a year earlier," the findings showed.

With growing tech demand, the tech SME sector is expected to contribute 7-9 per cent to the overall FY23E tech industry revenue at $15-$20 billion, higher than the pre-pandemic share of the tech industry at 4-6 per cent. In terms of headcount, the Indian tech SME sector is estimated to close FY23 with 740,000 employees, with hiring for digital skills growing 2 times faster than traditional tech talent in FY20, according to the report by Nasscom, in collaboration with ProHance.

This is likely to hurt the process to maximise returns from the sale because only the Hinduja Group may be left in the fray. Earlier, while opposing the extension of the auction, in a letter to RBI Deputy Governor M. Rajeshwar Rao, Torrent Investments had sought directions to Nageswara Rao Y, administrator of Reliance Capital.

Reiterating that artificial intelligence (AI) is a "kinetic enabler" of the digital economy, Chandrasekhar said that India is building AI in a way that is beyond ChatGPT which has made conversations via AI a fashionable thing for the masses. "We aim to build commercially deployable AI platforms and solutions, developed by a vibrant startup ecosystem in the country which is our primary goal," the minister said during a dialogue at the Vigyan Bhawan here.

According to Counterpoint Research, boAt registered 89 per cent (year-on-year) growth, contributing two-fifths of the total shipments. The Airdopes 131 remained the top-selling model for the second consecutive year with a 10 per cent share of the total TWS market shipments. Moreover, for the first time, the top five spots in the India TWS market were captured by local brands.

"The order book position of leading IT services companies remains strong, which will support the growth over the near term. However, evolving macro-economic headwinds may result in lower order inflows going forward," said Deepak Jotwani, assistant vice president and sector head, ICRA.

It is also being said that Finance Minister Nirmala Sitharaman's budget 2023-24 proposal of taxing the maturity and surrender amount of non-ULIP policies (purchased after April 1, 2023, if the total premium paid by an individual under such polices is more than Rs 5 lakh in a year, is a step towards the new IT regime. Presenting her budget on February 1, 2023, Sitharaman said the new IT regime will be the default one but those tax payers wanting to continue with the old one can still do so.

According to the South China Morning POst, the combined revenue of Chinese Internet firms decreased 1.1 per cent to 1.46 trillion yuan ($217 billion) last year, marking a sharp contrast to double digit growth in the previous six years. The data by the Ministry of Industry and Information Technology showed that the internet services firms in ride-hailing, travel, financial and flat rental sectors were hit the hardest.