All posts by Sanchit Gogia

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Tech Mahindra (@Tech_M) Q2 Net at Rs 719.7 cr #Press #Media #techreformers

Country’s fifth largest software services firm Tech Mahindra on Wednesday posted a marginal rise in net profit at Rs 719.7 crore for the quarter ended September 2014 on the back of growth in manufacturing and telecom verticals. Continue reading

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Tech Mahindra (@Tech_M) Q2 Net at Rs 719.7 cr #Press #Media @rediffbusiness

Country’s fifth largest software services firm Tech Mahindra on Wednesday posted a marginal rise in net profit at Rs 719.7 crore for the quarter ended September 2014 on the back of growth in manufacturing and telecom verticals.

The Mumbai-based company’s net profit stood at Rs 718.4 crore in the same quarter last fiscal.

Revenue grew 15 per cent to Rs 5,487.9 crore in the reported quarter from Rs 4,771.5 crore in the comparable period.

In dollar terms, the net profit stood at USD 118 million and revenues were USD 900 million in the period under review.

“Robust growth in key verticals this quarter underpins our belief in our strategy of continuous investment in capabilities,” Tech Mahindra Executive Vice Chairman Vineet Nayyar said.

Tech Mahindra’s active client count stood at 649 in Q2 compared to 632 in the preceding quarter.

The company added 2,580 professionals during the quarter to take the total headcount to 95,309. Of these, 66,175 people were with the software business, while 22,433 were in BPO operations.

Its cash and cash equivalent stood at Rs 3,434 crore as of September 30, 2014.

“We are seeing an increasing interest in digital enablement in our customer base, and our unique combination of capabilities in both the Communications domain and the Enterprise domain positions us well in the marketplace,” Tech Mahindra MD and CEO CP Gurnani said.

The Q2 performance is a reflection of Tech Mahindra’s strength in both these areas, he added.

The results were announced after close of market hours.

The scrip closed at Rs 2,396.50 apiece, up 1.16 per cent from previous close on BSE.

“With a quarter-on-quarter revenue growth of 7.2 per cent, their growth has been up to industry standards. Tech Mahindra has shown a strong increase in their IT revenue with 6 per cent owing to their significant multi million, multi-euro deal with Ahlstrom,” Greyhound Research CEO Sanchit Vir Gogia said.

Source: Rediff

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Tech Mahindra (@Tech_M) Q2 Net at Rs 719.7 cr #Press #Media @FCLive

Country’s fifth largest software services firm Tech Mahindra on Wednesday posted a marginal rise in net profit at Rs 719.7 crore for the quarter ended September 2014 on the back of growth in manufacturing and telecom verticals. Continue reading

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Tech Mahindra (@Tech_M) Q2 Net at Rs 719.7 cr #Press #Media @the_hindu

Country’s fifth largest software services firm Tech Mahindra on Wednesday posted a marginal rise in net profit at Rs 719.7 crore for the quarter ended September 2014 on the back of growth in manufacturing and telecom verticals. Continue reading

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Domain name Dotooo to become popular on mobiles: Infibeam (@infibeam) #Press #Media @EconomicTimes

E-commerce firm Infibeam, the first Indian company to acquire the domain name dotooo (Dot-Triple-O), released by the Internet Corporation for Assigned Names and Numbers (ICANN) under its domain name expansion programme, expects it to become popular on mobile phones on which most first-time users access the internet. Continue reading

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Amazon’s (@Amazonin) strategy for India: Stick to the concept of sister site #Press #Media @EconomicTimes

It’s been 16 months since Amazon, the $75 billion American e-tailer, launched a full-f ledged online marketplace in India. It’s been three months since its founder Jeff Bezos committed $2 billion of investments to its Indian operations. Even as those operations add new products, suppliers, warehouses and employees, Bezos is not letting go of the earlier life that marked Amazon’s entry into India.

Amazon made a soft launch in India in February. It dusted out a property it had bought in the US way back in 1998, Junglee, and launched it in India as a price-comparison website: users could compare the price of, say, a washing machine across not just online stores but also offline ones. As it waited on regulations, as it prepared the ground for a hard launch, Amazon used Junglee to test the waters, and observe online habits of Indians. Amazon is now immersed in those waters, but it’s not giving up Junglee.

In fact, it’s taking its sister site — the two share infrastructure – to the next level, tailoring it to flank its main marketplace (amazon.in). Amazon has not adopted this double-play strategy in any of its other 12 markets. It’s a strategy none of its rivals in India have adopted. “Comparison shopping sites have not worked globally,” says Niren Shah, managing director, of Norwest Venture Partners, a venture-capital fund. “But Amazon faces tough competition from local players and is now using Junglee as a flanking strategy – a test platform to try out categories and products before offering them on amazon.in.”

Some of the progress made by Junglee in the past few months offers a glimpse into Amazon’s larger gameplan for it. From just Yellow Pages kind of listing and price comparison, Junglee now also enables transactions, including from websites that compete with amazon.in. From leaving the buyer and seller to connect with each other, beginning October 8, Junglee began offering them Amazon’s payment gateway to make things easier. And a big – and visible – lister of products on Junglee is its big brother, amazon.in.

The Bigger Picture

Junglee has 102,300 sellers – about eight times the number on amazon. in. Of these, only about 2,300 have an online presence and most compete with amazon.in: for example, Jabong, Myntra, Limeroad, Quikr and Lenskart (Flipkart and Snapdeal are absent). Amazon accommodates its online rivals on Junglee because it adds to its value proposition, it gives it a vantage point to observe and make some money out of them (5-15% of the sale price). For online retailers, Junglee is another window for potential buyers. In fact, a seller of baby products who did not want to be named says Junglee’s comparison-shopping feature makes “being on it a necessity” even though under 5% of his sales came from here.

Of the 250,000 visitors who come to the website of online furniture retailer Fabfurnish daily, about 5,000 come via Junglee. “Our referrals have tripled in the last one year. But in absolute terms, it’s very small,” says Vikram Chopra, co-founder & CEO. “We believe Junglee will become relevant as more furniture players enter the market.”

For Amit Agarwal, country manager of Amazon and who also oversees Junglee, the offline piece is what gives Junglee its main relevance. He trots off statistics: more than 90% of retail in India is unorganised; e-commerce accounts for less than 1% and organised retail is just 8% of the $500 billion Indian retail sector. “Via junglee. com, we are trying to organise retail in India, and bring offline stores to list online,” he says. “(The idea is) to eventually help consumers buy anything, anytime, anywhere and for sellers to expand their market reach.” The big marketplaces like amazon. in, Flipkart and Snapdeal allow only those sellers who are capable of doing business online. Junglee is different in that it also allows sellers who operate only in the offline mode.

Typically, they are very small and uninitiated in the business ways of the Internet. Being on platforms like Junglee gives them additional reach and a feel of the online space. Say, a buyer in Koramangala in Bangalore, after some comparisonshopping on Junglee, decides to buy a Micromax A116 phone. Junglee presents him a list of sellers — online, offline and individuals – stocking this model, their prices and location. “He will be directed to online stores and physical stores in his locality (Koramangala)”, says Mahendra Nerurkar, who heads Junglee in India and reports to Agarwal. “He will have the option to connect directly with the physical store via contact details on the site.” Both Agarwal and Nerurkar hope, in time, such offline buyers will come online.

The Amazon Picture

Even as that happens, there’s plenty for Amazon India to leverage from Junglee. “Junglee is an ideal place for a first-time online shopper and a first-time online seller to experience e-commerce,” says Ankur Bisen, senior vice-president, retail & consumer products, Technopak, a consultancy.

Adds Sanchit Vir Gogia, chief analyst and CEO, Greyhound Research: “It’s a de-risk strategy for Amazon to try out new portfolios and products before offering them on Amazon.” 
Nerurkar says, unlike Amazon.in, Junglee shares user data and analytics with other sellers as well, via weekly reports.

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