LTIMindtree net profit dips 1.5%, Tredence to hire 1,500 in India

LTIMindtree net profit dips 1.5%, revenue up 5.1%

LTIMindtree, an IT services company reported a net profit of Rs 1,135 crore for the first quarter of FY25 which was a drop of 1.5% when compared to the same period a year ago. The revenues for this period touched Rs 9,143 crore which was a year-on-year growth of 5.1%.

“Our top 3 industry verticals and our largest geography have performed well sequentially. This is attributed to a measured uptick in IT spending for critical initiatives with clients balancing innovation and fiscal prudence,” LTIMindtree CEO Debashis Chatterjee said.

The operating margin touched 15% for the first quarter as compared to 16.7% in the same period of last fiscal.

Tredence aims to hire 1,500 people in India

Tredence, a data science and AI solutions company, is expanding its operations in India and has opened two new delivery centres in Pune and Kolkata, in addition to upgrading its facilities in Bengaluru and Chennai.

Expanding into sectors like Banking and Financial Services (BFSI) and Healthcare & Life Sciences (HLS) and entering the Middle East region, Tredence aims to hire 1,500 new employees, increasing its workforce by 60% from 2,500 to 4,000 employees by the middle of next year.

These new roles span data science, data engineering, data analytics MLOps, LLMOps, GenAI and marketing analytics. The company is also recruiting for innovative roles to meet the growing needs of clients in generative AI while launching a GenAI upskilling program to prepare professionals for upcoming client projects.

Hinduja Tech acquires TECOSIM Group in Germany

Hinduja Tech Limited (HT), a mobility-focused global engineering R&D services company and a subsidiary of Ashok Leyland, has announced the acquisition of TECOSIM Group of Germany at an enterprise value of 21 million euros (Rs 191.8 crore). According to a statement, this acquisition will expand Hinduja Tech’s presence in the European market and strengthen its portfolio as a mobility engineering services provider. It also brings in over 650 employees.

Hitachi Vantara launches partner advisory board

Hitachi Vantara, the data storage, infrastructure, and hybrid cloud management subsidiary of Hitachi Limited, has launched its inaugural Partner Advisory Board for India and the SAARC region. The Partner Advisory Board serves as a platform for Hitachi Vantara to regularly convene with its partners, exchange industry best practices and actively listen to partner feedback, with the goal of fostering continuous improvement and excellence in the partner programs.

Over the past year, Hitachi Vantara has enhanced its partner support infrastructure. These improvements include advanced sales and presales tools, a virtual labs environment, streamlined partner event programs, expanded inside-sales capabilities, increased marketing resources, and a redesigned partner portal with personalized features.

Additionally, Hitachi Vantara has introduced a sustainability credit feature and launched a new product demo experience website, reinforcing its commitment to supporting partners with innovation and resources.