Idea inks Rs.145-crore deal with Firstsource

October 6th, 2009 Epicor Software amends deal for line of creditIRVINE, Calif. — Epicor Software Corp.

May 27th, 2009 NEW DELHI - IT training and talent development company NIIT has reported a 44.1 percent increase in standalone net profit for 2008-09 despite a 17.8 percent fall in its fourth quarter earnings. The company's net profit for last fiscal stood at Rs.47.21 crore, up from Rs.32.77 crore in 2007-08, while the January-March quarter profit fell to Rs.23.14 crore from Rs.28.14 crore in the same period of 2008.

June 8th, 2009 BANGALORE - IBM has signed a $15-million (Rs.71-million) outsourcing deal with Eureka Forbes Ltd., a leading Indian health and hygiene solutions firm, to provide business consulting, package implementation, infrastructure and application management services for five years, the global IT major said Monday. As part of the engagement, IBM's India subsidiary will take over the IT staff of Eureka Forbes and leverage its research expertise to help improve its customer's revenue with new tools.

January 6th, 2009 HYDERABAD - Shares of Satyam Computer Wednesday crashed by over 72 percent to Rs.50 from a opening of Rs.179.10 on the bourses around 1 p.m., following the resignation of its founder-chairman B. Ramalinga Raju after he admitted to a Rs.40 billion (Rs.4,000 crore or $823 million) fraud - the largest in India Inc.

January 29th, 2009 NEW DELHI - India’s first home-grown wind technology company Suzlon Energy Friday reported a net loss of Rs.3.9 billion for the quarter ended Dec 31 as compared to net profit of Rs.3.38 billion in the corresponding period last fiscal. The company's total income, too, decreased to Rs.15.47 billion for the third quarter from Rs.16.83 billion last year, a company statement said.

January 13th, 2009 NEW DELHI - IT solutions provider NIIT Technologies Wednesday said its net profit dipped 52 percent to Rs.16.8 crore (Rs.168 million/$3.36 million) for the third quarter ending Dec 31 from Rs.34.7 crore (Rs.347 million/$6.94 million) in the same period last year. However, the company's revenues rose six percent to Rs.248.5 crore (Rs.2.49 billion/$480 million) for the quarter, as compared to Rs.233.8 crore (Rs.2.3 billion/$460 million) in the same period last year, a company statement said.

June 19th, 2009 NEW DELHI - The finance ministry has proposed a reserve base price of Rs.4,040 crore for third generation (3G) spectrum auctions and the final announcement could be made in a week, IT and Commmunications Minister A. Raja said Friday.

July 9th, 2009 BHUBANESWAR - Despite the global economic slowdown, software exports from Orissa grew by 39.05 percent in 2008-09 over the year before, officials said Thursday. The total IT exports of the state stood at Rs.1,168 crore last fiscal as against Rs.840 crore the year before, said Manas Panda, officer in charge of the Bhubaneswar unit of the Software Technology Park of India (STPI).

July 29th, 2009 NEW DELHI - IT training service provider NIIT Ltd Wednesday reported 42 percent dip in net profits to Rs.9.9 crore for the quarter ended June 30 as against Rs.17 crore in the like period last year. However, the company recorded one percent increase in its net revenue to Rs.261 crore from Rs.259.5 crore, NIIT said in a statement.

July 29th, 2009 NEW DELHI - IT solutions provider NIIT Technologies Wednesday reported a 13.5 percent dip in its operating profit to Rs.39.4 crore for the quarter ended June 30 as against Rs.45.6 crore in the like period last fiscal. The company's consolidated revenues too dipped 11 percent to Rs.218.2 crore from Rs.245.8 crore, NIIT said in a regulatory statement.

January 18th, 2009 BANGALORE - Hit by a massive forex loss due to a weakening rupee, global IT services firm MindTree Ltd. Monday reported a lower consolidated net profit of Rs.103 million (Rs.10.3 crore) for the third quarter (October-December) of this fiscal (2008-09), posting a negative growth of 48 percent year-on-year.

June 11th, 2009 CHANDIGARH - Software exports from Chandigarh and its adjoining towns of Panchkula and Mohali grew 31 percent to cross Rs.1,050 crore in 2008-09, compared to Rs.800 crore the year before. Growth results released by officials here said that software exports in the union territory, particularly from the Rajiv Gandhi Chandigarh Technology Park here, rose from Rs.504 crore in 2007-08 to Rs.750 crore last year.

February 15th, 2009 NEW DELHI - The communications ministry may expect the auction of scarce 3G spectrum to fetch Rs.30,000-Rs.40,000 crore ($6-8 billion), but the interim budget for 2009-10 has projected no more than Rs.20,000 crore ($4 billion) on that count. 'The budget estimates for 2009-10 include a sum of Rs.20,000 crore as the expected revenue from auction of 3G spectrum,' says the receipts budget tabled Monday by External Affairs Minister Pranab Mukherjee.

April 18th, 2009 IT major Tech Mahindra, which needs to pay Rs.1,756 crore for acquiring 31 percent stake in the troubled IT firm Satyam Computer Services, Saturday said it has raised Rs.600 crore through debt instrument.The government-appointed board of Satyam Monday named Venturbay - a subsidiary of Tech Mahindra - as the winner of the auction to sell a majority stake in the fraud-hit IT giant.Under the share subscription agreement signed by the winning bidder and the board, Tech Mahindra will have to deposit the bid amount in an escrow account by April 21. Tech Mahindra will also make an open offer for another 20 percent stake in Satyam at Rs.58 per share for controlling stake (51 percent).

April 20th, 2009 CHENNAI - Chennai-based Polaris Software Monday said its net profit was up 79 percent at Rs.130.71 crore for 2008-09, compared to Rs.73.22 crore earned the previous year. The company's revenues grew 25 percent to stand at Rs.1,377.95 crore from Rs.1,099.3 logged the fiscal before, it said in a regulatory statement.