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IT firm <keyword id="6357902" type="COMPANY" weightage="20" keywordseo="mindtree">Mindtree</keyword> on Tuesday reported a 61.2 per cent rise in consolidated net profit to Rs 343.4 crore for the June quarter compared to that of ₹213 crore in the same period last year. Revenue of the Bengaluru-based company grew by 20.1 per cent to ₹2,291.7 crore in the quarter under review from Rs 1,908.8 crore in the year-ago period, it added. In dollar terms, net profit rose by 64.7 per cent to USD 46.5 million while revenue grew by 22.6 per cent to USD 310.5 million in the June quarter over the year-ago period. At the end of June quarter, the company's active client base stood at 260, the filing said. Mindtree had 27,256 employees at the end of the June quarter with trailing 12-months attrition at 13.7 per cent. "We are pleased to report a strong start to FY22 with broad-based first-quarter growth across all service lines and industry segments," Mindtree CEO and Managing Director Debashis Chatterjee said. For the quarter, revenues were USD 310.5 million, up 7.7 per cent sequentially, and <keyword id="63060" type="ORGANIZATION" weightage="20" keywordseo="EBITDA">EBITDA</keyword> was 20.3 per cent - demonstrating the resilience of Mindtree business in a challenging environment. "Our highest-ever orderbook of USD 504 million affirms that the focused execution of our strategy and our client-centricity in re-imagining business models for the digital era are helping us drive profitable and sustainable growth," he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/pubg-mobile-battlegrounds-mobile-india-1-5-update-download-changelog-tesla-model-y/articleshow/84373727.cms">You can now drive the Tesla Model Y in Battlegrounds Mobile India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/binances-compliance-journey-gets-bumpier-as-another-partner-backs-out/articleshow/84373786.cms">Binance’s compliance ‘journey’ gets bumpier as another partner backs out</a>

Mindtree's operating profit goes up over 20% sequentially, as the Bengaluru-based IT services firm gets highest ever order book

New Delhi, Jun 12 () IT firm Mindtree on Friday said it expects "high single-digit decline" in overall revenue growth in dollar terms in the first quarter of 2020-21 as compared to the preceding quarter on account of disruptions caused by the COVID-19 pandemic. The Bengaluru-based company said it is well-equipped to handle the global crisis based on the business continuity plan that it has implemented, and expects its second-quarter numbers to be better than that of the June quarter. "COVID-19 outbreak has been creating unprecedented level of uncertainty with major economies virtually coming to a halt... The travel, transport and hospitality (TTH) segment is at the front line of today's pandemic situation," Mindtree said in a regulatory filing. The company said it expects to see near-term impact coming from TTH that contributed 16 per cent of its revenues in the March 2020 quarter. "Based on the current assessment and visibility, we expect high single-digit decline in overall revenue growth (in dollar terms) for Q1FY21 as compared to Q4FY20," it said. Mindtree said it is seeing increasing demand in other segments such as communication, media and technology (CMT), and consumer packaged goods (CPG). "Accordingly, we expect our Q2FY21 revenues better than Q1FY21," it added. The company said it is in conversation with clients to carve out specific offerings along with right commercial models to help clients sail through the current pandemic situation. "We expect demand from our clients for digital and transformational services as they invest into data, cloud-enabled solutions, customer-centric and end user experience businesses," it said. Mindtree stated that its focus would be on signing multi-year annuity deals, rationalising tail-accounts and going deeper into the limited set of strategic clients. "Accordingly, we expect the topline recovery to fructify during second half of 2020-21. Despite near-term challenges on the revenue, through various cost-optimisation measures, we expect our Q1FY21 margin to hold at Q4FY20 levels," it added. Mindtree said it has a robust balance sheet and liquidity position with cash and investments of Rs 1,361.8 crore as on March 31, 2020, with good visibility of additional cash flow generation in 2020-21. Mindtree's revenue grew 6.3 per cent year-on-year to USD 278.4 million in the March 2020 quarter. It added that given the near-term challenges in the revenue, it has implemented additional cost-optimisation measures including deferred salary hikes, optimising sub-contractors expenses and limiting discretionary spends to contain the impact on the profitability. SR HRS

COVID-19: Mindtree sees high single-digit decline in dollar revenue growth during Q1

<ul><li><keyword id="896278" type="PERSON" weightage="20" keywordseo="Indian-IT-services-companies">Indian IT services companies</keyword> <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> and <keyword id="141968" type="CITY" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword> may see their stocks increase by more than 50% in the coming year, according to Edelweiss.</li><li>The current ‘tech upcycle’ could also put mid-cap stocks like MindTree and L&amp;T Infotech on the road to becoming large caps by 2035.</li><li>The surge of growth is pegged on the faster-than-expected recovery of the BFSI vertical, the prioritisation of spending on cloud services and the reduction of costs due to most employees working from home. </li></ul>The COVID-19 pandemic may have wreaked havoc on many industries but the IT sector exhibited extraordinary perseverance. Edelweiss estimates that despite the rally seen over the last three months, the best is yet to come. And, <keyword id="4126021" type="PERSON" weightage="20" keywordseo="Indian-IT-stocks">Indian IT stocks</keyword> like Infosys, HCL Tech and TCS are most likely to reap the benefits. “Among mid-caps, we believe Mindtree and L&amp;T Infotech might well be the large caps of 2035 (perhaps much like Infosys and TCS, respectively),” said the analysts’ December report on the IT sector. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Target Price </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Projected upside </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Eclerx </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,536 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">96.70% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,480 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">72.90% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹1,850 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">63.10% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">LTTS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2,740 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">52.10% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4,000 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">46.90% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹2,044 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">42.10% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T Infotech </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹4,197 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">28.50% </td></tr></tbody></table>Source: Edelweiss Research This is because ‘clients are more determined to spend than ever before,’ according to Edelweiss. This is further bolstered by the fact that the IT companies themselves are gaining on margins with employees working from home. Most companies will have a larger than usual budget for tech upgrades Companies don’t normally carry over their budget allocation for IT into the next year. But this time around, they’re making an exception. Majority of IT departments are likely to carry forward any of the unused technology budgets from 2020 into 2021, according to Edelweiss. That means next year, most clients of IT services companies will have a significant amount to spend in addition to traditional allocation for technology upgrades. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Quarter </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS’ Total Contract Value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys’ large deal signings </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.7 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.7 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6.4 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.8 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.8 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.9 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.7 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$6.9 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.7 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q2 FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.6 billion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3.2 billion </td></tr></tbody></table>Source: Respective company reports “[This implies] FY22 revenue growth for Indian technology companies can be comfortably in the 12–14% range or even more,” said the report. The best phase of the ‘tech upcycle’ The surge in spending on technology upgrades has been dubbed the ‘tech upcycle’. It’s a result of the increase in online activity during the coronavirus pandemic. Back in June, the upcycle was just kicking off and the most expansive phase — when the money actually starts rolling — is yet to begin. This is called the ‘squeeze up’ phase of the cycle. <div type="image" title="Copy of canara bank" msid="79659488" hostid="261" caption="&amp;lt;p&amp;gt;The share prices of HCL Tech, Infosys and TCS over the last six months&amp;lt;/p&amp;gt;"></div> Why will some companies gain more than others? According to Edelweiss, all IT companies have something to gain from the increased spending on digital that will flow in. But, some will gain more than others depending on where their focus lies within the digital space. For instance, spending on cloud technology is more important than investing in non-cloud digital services. “Cloud has clearly taken precedence in spends as clients now increasingly and strongly-than-ever believe that they need an agile IT infrastructure to manage variable data loads,” notes the report. With companies like HCL Tech, Infosys and TCS being the strongest contenders for cloud technology right now, they have the most to gain. Another positive for these companies is that the BFSI segment, in particular, is witnessing decade-high budgetary allocations to upgrade its technology. <div type="Article" hostid="261" msid="76334123" title="TCS, Infosys, HCL Tech and others will gain from Microsoft, Amazon and Google spending more on technology" mstype="2" mssubtype="0"></div> IT sector gains aren’t without its risks The IT sector may be on the precipice of massive growth but the risks have never been higher. A serious data breach — keeping in mind that the number of cyberattacks on companies during the last six months has been increasing — could have a serious impact on client trust and customer confidence. The depreciation of the dollar versus the rupee could also moderately affect growth and the resulting earnings estimates of IT companies, according to Edelweiss. And, while it is true that technology spends are stepping up, the North American market is an exception to that rule. Since most clients within the US are already digitally savvy, their budgets for IT may be slashed. <keyword id="6357549" type="UNKNOWN" weightage="20" keywordseo="Indian-IT-companies">Indian IT companies</keyword> may bear the brunt since, for most, the majority of their revenue comes from customers in the US. Lastly, while the BFSI sector is racing to catch up, it also means there’s a higher risk of companies within that vertical declaring bankruptcy. If a large enough BFSI client was to go bust, it wouldn’t impact the whole industry, but the IT services company providing services would be in for a rough ride. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/india-desi-gps-finally-joins-china-russia-and-the-us-after-a-two-year-long-wait/articleshow/79656300.cms">India’s desi-GPS is now in the same league as the US, Russia and China — can scan 1,500 kilometres beyond its own borders</a> <a href="https://www.businessinsider.in/science/health/news/canada-has-enough-covid-19-vaccine-doses-to-cover-each-citizen-five-times-over-while-the-fate-of-67-poor-countries-remains-undecided/articleshow/79645493.cms">Canada has enough COVID-19 vaccine doses to cover each citizen five times over while the fate of 67 poor countries remains undecided</a> <a href="https://www.businessinsider.in/india/news/farmers-plan-to-block-delhi-jaipur-and-delhi-agra-highways-starting-december-12-and-start-nationwide-protests-on-december-14/articleshow/79644167.cms">Farmers call for nationwide protest on December 14 — plan to block Delhi-Jaipur and Delhi-Agra highways starting December 12</a>

One research firm says shares of Infosys, HCL Tech, and TCS may see another surge — here's why

San Francisco, <keyword id="10875" type="CITY" weightage="20" keywordseo="IBM">IBM</keyword> is mulling to sell its <keyword id="10795783" type="UNKNOWN" weightage="20" keywordseo="watson-health-business">Watson Health business</keyword> that is generating nearly $1 billion in annual revenue but is not profitable. The <keyword id="6384660" type="COMPANY" weightage="20" keywordseo="wall-street-journal">Wall Street Journal</keyword> reported that IBM is exploring a potential sale of its <keyword id="6411673" type="PERSON" weightage="20" keywordseo="watson">Watson</keyword> Health business, as CEO Arvind Krishna "moves to streamline the company and become more competitive in cloud computing". "Watson was one of IBM's highest-profile initiatives in recent years and a big bet on the growing healthcare sector, though results disappointed in part because physicians were hesitant to adopt artificial intelligence," the report said on Friday. "IBM is studying alternatives for the unit that could include a sale to a private-equity firm or industry player or a merger with a blank-check company," the report added, citing sources. IBM currently has a market value of $108 billion, way behind Cloud-computing rivals like AMAzon and <keyword id="10387" type="COMPANY" weightage="20" keywordseo="Microsoft">Microsoft</keyword>. In its fourth quarter, cognitive applications revenue, which includes Watson Health, came to $1.5 billion, a decrease of 2 per cent year over year. IBM Watson was one of the "strategic imperatives" under former CEO Ginni Rometty. A weak cloud and cognitive software performance saw IBM shares sliding 6.6 per cent after the company missed Q4 revenue estimates, posting its fourth straight quarter of revenue decline. The Q4 (December 2020 quarter) sales totalled $20.4 billion, down 6 per cent (on-year) and slightly below the $20.63 billion consensus. Cloud and Cognitive Software sales dropped 5 per cent to $6.8 billion, below the $7.18 billion estimates. Last quarter, this segment was up 7 per cent. IBM has appointed Martin Schroeter as the Chief Executive Officer of the independent company that will be created following the separation of IBM's Managed Infrastructure Services business ï¿½NewCo'. NewCo will focus on the management and modernisation of IT infrastructure in every industry around the world. The previously announced separation is expected to occur by the end of 2021. SEE ALSO: <a href="https://www.businessinsider.in/entertainment/news/pewdiepies-lyrics-targeting-cocomelon-and-jk-rowling-that-may-have-gotten-youtube-angry-enough-to-pull-the-video-down/articleshow/81102941.cms">PewDiePie's lyrics targeting CocoMelon and JK Rowling may have gotten YouTube angry enough to pull the video down</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-gets-leaner-with-a-300-million-jabong-write-off-as-ceo-kalyan-krishnamurthy-lists-out-the-priorities-for-2021/articleshow/81105083.cms">Flipkart gets leaner with a $300 million Jabong write-off as CEO Kalyan Krishnamurthy lists out the priorities for 2021</a> <a href="https://www.businessinsider.in/stock-market/news/happiest-minds-is-leveraging-its-partnerships-with-big-players-like-google-microsoft-aws-salesforce/articleshow/81105035.cms">Happiest Minds is a smaller company that does the same thing as MindTree and L&amp;T Infotech — but clearly it is doing it a lot better</a> <a href="https://www.businessinsider.in/tech/news/india-may-require-twitter-facebook-and-others-to-remove-unlawful-content-within-36-hours/articleshow/81104740.cms">India may require Twitter, Facebook and others to remove unlawful content within 36 hours</a>

IBM may sell  Watson Health business generating $1 billion annual revenue, says report

New Delhi, Vehicle price hikes coupled with <keyword id="10796736" type="UNKNOWN" weightage="20" keywordseo="cost-rationalisation-measures">cost rationalisation measures</keyword> taken by OEMs will limit the impact of rising input cost but these might not be adequate enough to sustain margins at the 3QFY21 levels, said India Ratings and Research. Accordingly, the Q4FY21-Q1FY22 standalone EBITDA margins of OEMs could be 100-200 basis points lower than Q3FY21's margins, on account of the recent spike in <keyword id="148676" type="PERSON" weightage="20" keywordseo="input-prices">input prices</keyword>. "The vehicle price hikes coupled with the cost rationalisation measures taken by OEMs to counter the sharp rise in the prices of commodities might not be adequate to sustain margins at the 3QFY21 levels," "While operating leverage is likely to remain favourable due to the demand rebound witnessed in most of the industry sub-segments, 4Q being a seasonally lower quarter, operating leverage could remain lower on a quarterly basis." Besides, the shortage of components such as semi-conductors and other electronic components could impact the overall vehicle production and hence limit the potential demand upside. Overall, for FY21, the report said Ind-Ra does not expect significant deviation in the industry EBITDA margins from its earlier expectations. "Ind-Ra believes that although the increasing input prices would impinge on the near-term profitability of auto OEMs, they are likely to benefit from these corrective measures including cost rationalisation over the medium term, as the input prices normalise." At present, cost of raw materials account for 65-70 per cent of the total revenues, depending on industry segments. "The proportion of metal components is over 95 per cent in commercial vehicles (CVs) and tractors (by weight), while it is 65-70 per cent in passenger vehicles (PVs) and two-wheelers (2Ws)." "In terms of value, metals cost directly account for 8-16 per cent of revenues on parts such as body or chassis, powertrain or engine components, wheel rims." Additionally, metals are used in certain other components, child parts, sub-assemblies which is difficult to quantify. "The prices of these commodities have been on an increasing trend." In YTDFY21, the average cost of steel increased 12.6 per cent compared to the FY20 average, while the prices of aluminum and copper increased 8 per cent and 5 per cent, respectively. "In 3QFY21 alone, the prices for steel, aluminum and copper had increased by 29 per cent, 19 per cent and 9 per cent yoy, respectively. In January 2021, the prices of steel were hovering at historically high levels of INR 73,843 per tonne." SEE ALSO: <a href="https://www.businessinsider.in/entertainment/news/pewdiepies-lyrics-targeting-cocomelon-and-jk-rowling-that-may-have-gotten-youtube-angry-enough-to-pull-the-video-down/articleshow/81102941.cms">PewDiePie's lyrics targeting CocoMelon and JK Rowling may have gotten YouTube angry enough to pull the video down</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-gets-leaner-with-a-300-million-jabong-write-off-as-ceo-kalyan-krishnamurthy-lists-out-the-priorities-for-2021/articleshow/81105083.cms">Flipkart gets leaner with a $300 million Jabong write-off as CEO Kalyan Krishnamurthy lists out the priorities for 2021</a> <a href="https://www.businessinsider.in/stock-market/news/happiest-minds-is-leveraging-its-partnerships-with-big-players-like-google-microsoft-aws-salesforce/articleshow/81105035.cms">Happiest Minds is a smaller company that does the same thing as MindTree and L&amp;T Infotech — but clearly it is doing it a lot better</a> <a href="https://www.businessinsider.in/tech/news/india-may-require-twitter-facebook-and-others-to-remove-unlawful-content-within-36-hours/articleshow/81104740.cms">India may require Twitter, Facebook and others to remove unlawful content within 36 hours</a>

You Searched For "Mindtree Q1" and got 5 results

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