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  • Top-Level Turmoil: Four Senior Leaders Quit Flipkart

    Walmart-owned Flipkart has been going through a significant leadership transition amid ambitions for a public listing. According to reports, at least four executives have resigned from their posts, including three other VPs and a senior vice president (SVP).

    Anurag Singhvi, VP and head of analytics; Prajakta Kanaglekar, VP and head of human resources; Ankit Jain, SVP and head of grocery and major supply chain; and Ganesh Ramaswamy, VP and chief product and technology officer at Cleartrip, have all reportedly left Flipkart.

    According to the article, Jain is expected to take over as SVP of Swiggy Instamart, replacing Sairam Krishnamurthy, who is currently the chief operating officer of the fast commerce company.

    Executives Left Without Any Future Plan

    Jain worked with Flipkart till May 2025, according to his LinkedIn page. He began working for the Bengaluru-based company in 2019 and has held a variety of leadership positions for over five years.

    He joined Flipkart from the massive FMCG company Unilever and has over 20 years of professional expertise. The future plans of Kanaglekar, Singhvi, and Ramaswamy—all of whom have worked for Flipkart for more than five years—are unclear.

    According to the aforementioned report, people might try to start their own companies or develop startup concepts. The rumour that Jain will join Swiggy Instamart coincides with intense competition in the rapid commerce space and Flipkart’s gradual ascent to prominence.

    India’s Quick Commerce Space has Become the Centre of Attraction

    According to Flipkart Minutes, the company has increased the number of its dark stores to 300 across over 14 cities, with aspirations to reach 800 by the end of 2025. With over 500 million users, it aims to provide Blinkit, Zepto, and Swiggy Instamart banking with fair competition.

    At the conclusion of the March quarter, however, Swiggy Instamart had 1,021 dark stores overall, having added 316 in the fourth quarter of FY25 alone. Swiggy’s ambitions to grow exponentially are having a negative financial impact.

     In Q4 of FY25, its consolidated net loss increased 95% year over year to INR 1,081.2 Cr. In addition, the fast commerce vertical of the foodtech giant recorded an adjusted EBITDA loss for Q4 FY25 of INR 840 Cr, up 45.3% from INR 578 Cr in the previous December quarter.

    Nonetheless, the operating revenue of the rapid commerce vertical increased 19.5% from INR 576.5 Cr in Q3 to INR 689 Cr in Q4. Jeyandran Venugopal, the chief product and technology officer at Flipkart, also quit earlier this year, citing personal reasons.

  • $40M Monthly Burn: Flipkart CEO Urged to Slash Costs

    According to reports, Flipkart, the massive e-commerce company owned by Walmart, intends to restrict the growth of its Flipkart Minutes rapid commerce division to the top six to eight cities in order to minimise capital burn.

    The top eight cities account for over 90% of quick commerce volumes, with Bengaluru, Mumbai, and Delhi NCR accounting for the majority of this, where Flipkart is expanding with Minutes.” Flipkart Minutes operates a network of over 300 dark stores, or micro warehouses, and is now available in 14 locations.

     It is a competitor to Amazon Now, Swiggy Instamart, Zepto, BigBasket’s BB Now, and Eternal-owned Blinkit. According to a media report, the goal is to grow this up to about 500–550 by October.

    Flipkart Carefully Spreading its Wings

    As a result of this action, Flipkart is now approaching growth more cautiously, similar to Swiggy, whereas Eternal is growing rapidly regardless of immediate financial gain. In the meantime, Flipkart wants to reach 500–550 customers through its dark shop channel before this year’s “Big Billion Days” promotions.

     However, analysts at broking firm HSBC Securities noted in a research note on May 12 that it is also under pressure to cut its continuous cash burn of about $40 million per month in half over the next few quarters in an effort to launch its IPO.

    The company’s intention to move its headquarters from Singapore to India in preparation for an IPO in 2026 was approved by Flipkart’s board last month. Nearly a year after Flipkart got $350 million from Google as part of a $1 billion fundraising round headed by Walmart, the domicile shift procedure was started.

    More recently, Flipkart invested INR 3,248.9 Cr in Flipkart Internet, its marketplace division, through its Singapore holding company. Flipkart has established new alliances despite limiting its goals for rapid commerce expansion.

     In order to introduce its smartphone line on Flipkart’s e-commerce platform and its Minutes rapid commerce sector, French smartphone manufacturer Alcatel formed a “retail” agreement with the company in April. Flipkart’s collaboration with Alcatel coincides with the Competition Commission of India’s scrutiny of the company’s exclusive product releases with OEMs such as Xiaomi and Samsung.

    Flipkart’s Financial Outlook

    The internet giant and competitor Amazon were found guilty by the watchdog’s internal investigation last year of breaking antitrust laws by favouring specific vendors on its platforms and engaging in aggressive pricing practices.

    Flipkart is concentrating on enhancing its financial performance as it gets ready for its public launch. Flipkart Internet’s losses decreased 41% to INR 2,358 Cr in FY24, while its sales increased 21% year over year to INR 17,907.3 Cr.

    According to its financial report, the company’s advertising earnings in FY24 exceeded its marketplace fees. The industry is one of the fastest-growing in India, with a 37% compound annual growth rate (CAGR) predicted to reach $40 billion or more by 2030, according to a report published by a media house. In 2024, more than two-thirds of all online grocery orders were placed through quick commerce.

  • IBM Swaps 200 HR Jobs for AI in Bold Automation Move

    In an effort to automate internal procedures and reduce repetitive work, IBM has started substituting AI agents for some of its HR (human resource) employees. As the internet giant increasingly relies on AI-powered solutions, Arvind Krishna, the company’s CEO, recently claimed that “a couple hundred” HR personnel’ jobs have been replaced by AI.

    This type of action also represents a trend in which businesses are increasingly depending on AI to optimise internal procedures, hence decreasing their reliance on physical labour. Although IBM has not provided a timeframe, rumours indicate that some 200 positions have already been phased out.

    Other Departments Witnessing Hiring Spree

    It’s interesting to note that the corporation is not shrinking in general just because HR positions are being reduced. The overall number of employees at IBM has increased, with more people being hired in divisions like software engineering, marketing, and sales—areas where interpersonal, problem-solving, and human interaction are still essential.

     Arvind Krishna clarified in an interview with a well-known media outlet that automating some processes has allowed funds to be allocated to other projects.

    He added that although IBM has made significant efforts to apply AI and automation in some enterprise processes, he said that overall employment has increased since it allows for greater investment to be made in other areas.

    AI Gaining Traction in the Tech Sector

    In the tech industry, the usage of AI agents—software tools that can do tasks like data sorting, emailing, or processing internal requests—is rapidly gaining traction. Although there hasn’t yet been a significant wave of AI-related job losses, some businesses are halting hiring until they determine the best way to apply the technology.

    These AI agents are already being deployed at IBM to manage staff transfers and perform employment verification. HR employees used to complete them by hand. The change doesn’t necessarily mean that jobs will disappear completely, according to Nickle LaMoreaux, chief human resources officer at IBM.

    She stated, “Very few roles will be completely replaced.” AI will probably replace repetitive tasks instead, freeing up workers to concentrate on tasks requiring judgement and decision-making. IBM is now providing new AI services to its clients in addition to reorganising its internal teams.

    The company revealed tools this week at its annual Think conference that enable companies to create and manage their own AI agents. These tools are intended to complement current platforms from companies such as Microsoft, Amazon, and OpenAI.

    IBM predicts that within five years, about 7,800 positions, or over 30% of non-customer-facing roles, might be automated. This does not, however, mean that everyone will lose their jobs. Employees are expected to learn how to deal with AI tools as most roles change.

  • Zerodha Recognised on Nasdaq Tower for Open-Source Contributions

    Zerodha, one of India’s leading stockbroking platforms, has achieved a significant milestone. Recently, the company was featured on the iconic Nasdaq Tower in Times Square, New York, celebrating its remarkable contributions to the open-source community. This global recognition highlights the company’s outstanding achievements in the fintech sector and its growing influence in the world of trading and investments.

    The Open-Source Foundation of Zerodha’s Operations

    Zerodha’s success is deeply rooted in its adoption and advocacy of Free and Open Source Software (FOSS), which underpins its platform used by nearly 2 crore Indians. CEO Nithin Kamath acknowledged FOSS as instrumental in enabling Zerodha to manage over INR 6 lakh crore in client assets and drive nearly 15% of India’s daily retail trading volumes. Beyond usage, Zerodha actively contributes back by open-sourcing internal tools, launching a $1 million annual fund to support global FOSS projects, and co-founding FOSS United to promote open-source in India.

    This commitment shows a broader mission: to strengthen the global tech ecosystem through collaboration, transparency, and innovation.



    Changing the Landscape of Indian Trading

    Zerodha has redefined trading in India, offering a low-cost, efficient, and user-friendly platform. Over the years, the company has introduced several groundbreaking features like the Kite trading platform, which offers seamless and fast execution of trades. Zerodha’s user-friendly interface and educational initiatives, such as Varsity, have made it easier for millions of Indians to understand and engage with the stock market.

    The Global Recognition

    The display of Zerodha’s name on the Nasdaq Tower represents not only a personal achievement for the company but also a larger recognition of the growing influence of Indian fintech globally. It is a proud moment for the company, as it highlights Zerodha’s position at the forefront of the global financial services industry.

    Zerodha’s Founder and CEO, Nithin Kamath, shared his excitement about this recognition on his social media, “It feels nice to see @zerodhaonline being recognized for our contributions to open source. 😀”


    The Future Outlook

    As Zerodha celebrates this remarkable achievement, it remains focused on expanding its reach and improving its services for the Indian market. With a commitment to innovation, customer satisfaction, and ethical business practices, Zerodha is all set to continue its growth and further establish itself as a leader in the fintech sector.

    In a recent LinkedIn post, Kamath highlighted, “It wouldn’t be an overstatement to say that 4th Cross JP Nagar is a hotbed of FOSS activity in India along with Broking!” With its continued focus on technology, customer empowerment, and open-source development, Zerodha’s future looks bright as it continues to revolutionise the financial landscape.

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  • Disaster Recovery Drill Backfires? PhonePe Hit by UPI Outage

    Due to a network capacity shortage brought on by cybersecurity exercises held in the wake of the India-Pakistan conflict, fintech giant PhonePe had an outage on 12 May when it came to processing Unified Payments Interface (UPI) transactions.

    For more than an hour on the same day, users and industry stakeholders reported that the PhonePe app was unable to access India’s real-time payments system, UPI.

    The disruption happened when the Bengaluru-based company started using a new data centre to process all of its transactions for disaster recovery (DR) exercises. Transaction problems were caused by a network capacity deficiency that was revealed by a larger amount of UPI transactions on Monday night.

    Drills were Part of Cybersecurity Measures

    The purpose of the drills was to test the network firewall’s cybersecurity features. According to Rahul Chari, co-founder and chief technology officer (CTO) of PhonePe, the company started active disaster recovery drills at PhonePe with increased cybersecurity measures on its network firewall because of the conflict’s intensification last week.

    A new data centre was handling all of the firm’s traffic that evening across all of its services. Sadly, a network capacity shortage was revealed by 12 May night’s peak traffic, which caused transactions to begin failing. The confrontation between India and Pakistan was followed by these active drills.

     For the payments network to operate smoothly in such cases, stronger cybersecurity precautions are needed. A top industry executive went on to say that the disruption was exclusive to PhonePe and that there was no downtime on the UPI network itself.

    Paytm Became the Front-Runner

    Vijay Shekhar Sharma, the founder of Paytm, claimed in a post on the social media site X that on May 12, the Noida-based company’s application was operating without hiccups and handling twice as many transactions as usual.

    Paytm’s UPI payments are operating without a hitch, Sharma continued. The Paytm app is operational at twice the usual volume. Users experienced four disruptions in recent weeks when attempting to process UPI transactions in March and April.

    In an effort to lessen these interruptions, the National Payments Corporation of India (NPCI) released two circulars last month that included application programming interface (API) recommendations. While the second circular provides guidance on how to stop the abuse of APIs related to real-time payments, the first circular concentrates on decreasing response times for four APIs.

    With over 864 crore transactions handled in March—nearly half of all UPI traffic—PhonePe was the leader of the UPI ecosystem. Google Pay came next, although Paytm is still widely used, especially by local merchants and small companies, despite having a lower volume.

    This most recent issue coincides with government efforts to encourage small sellers to use UPI, including a INR 1,500 crore incentive programme for BHIM app ecosystem usage.

  • Gensol Founders Anmol & Puneet Singh Jaggi Step Down in a Surprise Move

    Almost a month after market regulator SEBI prohibited them from holding important roles within the firm, Gensol Engineering Ltd said on May 12 that Anmol Singh Jaggi, the managing director, and Puneet Singh Jaggi, the full-time director, had resigned.

     In his letter of resignation, Anmol Jaggi stated that he would be leaving his position as Managing Director of Gensol Engineering Limited effective May 12, 2025, at the end of business hours. Additionally, he announced his resignation in response to the directive issued under the SEBI Interim Order on April 15, 2025.

    He would want to use this occasion to express his gratitude to the whole Board, the Management Team, and the Company’s workers for their cooperation and support throughout his tenure.

    SEBI Putting a Tight Scanner on the Firm

    Gensol Engineering Limited filed a challenge against the April 15 SEBI judgement, but the Securities Appellate Tribunal did not provide any relief last week. Sebi implemented several strict actions as a result of governance failures, including banning Gensol and its promoters, the Jaggi brothers, from using the securities market until further notice.

    The Jaggi brothers were also prohibited from holding any important management or directorship positions inside Gensol. Between FY22 and FY24, Gensol obtained INR 977.75 crore in loans from PFC and IREDA. INR 663.89 crore of the loan was intended to buy 6,400 EVs. However, according to supplier Go-Auto, Gensol acknowledged purchasing just 4,704 EVs for INR 567.73 crore.

    Since Gensol was also expected to provide 20% of the equity, the total expenditure should have been INR 829.86 crore, leaving INR 262.13 crore unaccounted for.

    Legal Argument Between Sebi and Gensol

    Gensol contended at the SAT hearing that the Sebi order was issued without a hearing and claimed that this resulted in a “tremendous loss of business”. The business claimed that its activities were in danger of contract cancellations and possible loan defaults as a result of the freeze on its demat account and the continuing forensic audit.

    Sebi retorted that Gensol had deceived investors, lenders, and regulators by forging payback certificates on state-run banks’ letterheads. Ireda and PFC, who have both filed complaints with the Economic Offences Wing disputing that they ever issued any such certificates, backed up these accusations.

    An investigation into Gensol and BluSmart Mobility has also been launched by the Ministry of Corporate Affairs.

    Inappropriate Usage of Funds

    According to the Sebi investigation, money intended for EV purchases was frequently diverted back to Gensol or organisations connected to the Jaggi brothers.

    A portion of the money went towards the promoters’ personal needs, including buying a fancy flat, giving money to close family members, and making investments in their own private companies.

    According to officials, the corporate affairs ministry has mandated an investigation into the suspected violations of companies law by Gensol Engineering and BluSmart Mobility, two companies that are currently facing a crisis.

     In the meantime, it is anticipated that the Institute of Chartered Accountants of India (ICAI) would finish reviewing Gensol Engineering Ltd’s and BluSmart Mobility’s financial accounts within six months. The two companies’ financial statements for the fiscal year 2023–2024 are being examined by ICAI’s Financial Reporting Review Board (FRRB).

  • Motilal Oswal & Raamdeo Agrawal Bet Big on Zepto with $100M Personal Investment

    According to a media report, Motilal Oswal and Raamdeo Agrawal, co-founders of Motilal Oswal Financial Services, have contributed a combined $100 million to Zepto, a startup in the fast commerce space.

    The company, Motilal Oswal, is getting ready to spearhead a $250 million secondary share offering in Zepto in addition to his personal commitments. Hero FinCorp and Edelweiss Financial Services are also anticipated to take part in the round.

    The money raised would go towards buying shares from current foreign investors. General Catalyst, Nexus Venture Partners, StepStone Group, Y Combinator, Goodwater Capital, and Glade Brook Capital are some of the current foreign investors in Zepto.

    The Move is Aligned with Zepto’s Strategy to Increase Domestic Ownership

    The action is a component of Zepto’s continuous plan to boost domestic ownership. Prior to its anticipated public listing, the company has been actively pursuing its goal of becoming a 75% Indian-owned business.

    Zepto wants to adhere to investor and regulatory preferences that support local ownership in strategically significant industries by enabling secondary transactions between foreign and domestic investors. Additionally, this fundraising comes after Motilal Oswal Private Wealth led a $350 million first capital round in November 2024, which kept Zepto’s valuation at $5 billion.

    High-net-worth individuals and Indian family offices participated in that round. Additionally, it is Raamdeo Agrawal’s second investment in Zepto, following his $15 million personal investment in October 2024 and his unannounced August investment.

    Traxcn data shows that Zepto has raised $1.95 billion in ten financing rounds to date. Zepto raised $665 million in a Series F investment in June 2024, which was the company’s highest funding round to date.

    The Present State of the Quick Commerce Industry in India

    According to industry data, the rapid commerce business in India has expanded by 280% in the past two years, and the top three companies, Blinkit, Zepto, and Swiggy Instamart, have combined to generate over $1 billion in revenue for FY24.

    This occurs as Indian businesses are stepping up their rapid commerce solutions. Amazon India is getting ready to debut its rapid commerce service, Tez, while Myntra recently introduced M-Now for 30-minute- to 2-hour deliveries.

    E-commerce and other retail formats are being disrupted by quick commerce, which, according to a recent Bernstein analysis, is expanding more quickly than contemporary retail chains like Reliance Retail, Dmart, and Spencer Retail. This is one of the reasons why consumer platforms are responding to the shift by preparing to deliver a variety of goods outside of groceries in 10–20 minutes.

  • JSW One Platforms Enters Unicorn Club with INR 340 Crore Boost, Set to Power MSME Growth Across India

    JSW One Platforms emerges as one of the fastest entrants to the unicorn club in India’s B2B e-commerce space.

    JSW One Platforms Ltd., India’s leading tech-led B2B e-commerce platform, has raised INR 340 crore of fresh capital, led by Principal Asset Management, OneUp, JSW Steel, and other investors. This round brings the company’s valuation to $1 billion, earning it a coveted unicorn status. 

    This milestone marks a valuation jump of over 3x from its earlier round of funding in April 2023, a testament to the platform’s strong product-market fit, resilient supply chain, and rapid business execution in just four years. 

    The capital raised will strengthen national supply chain leadership in steel and cement categories, deepen distribution and logistics networks across India, scale the fintech and NBFC arms, and enable wider access to credit for MSMEs. This will be enabled by building a robust tech stack that creates a truly integrated and digital procurement journey for small businesses. 

    By offering an end-to-end ecosystem, including commerce, credit, and fulfilment, JSW One aims to simplify sourcing and accelerate growth for over 500,000 building and manufacturing MSMEs across the country. 

    Parth Jindal, Chairman, JSW One Platforms, said, “JSW One Platforms is more than a marketplace, it’s how India’s MSMEs procure, finance, and grow. We’re solving critical pain points by combining our tech-led distribution model with JSW Group’s strength in manufacturing.  We are well-positioned to fulfil the ambitions of India’s expanding MSME sector.” 

    Gaurav Sachdeva, Joint Managing Director & CEO, JSW One Platforms, added, “JSW One’s goal is to enable reliable procurement for MSMEs through quality materials, timely delivery, and the right credit solutions. This capital allows us to expand our service network, scale our private brands and NBFC arm, and invest further in tech and logistics. We’re building a supply chain that  will continue to add efficiency for MSMEs across India.” 

    In April 2023, JSW One raised INR 205 crore in funding from Japan’s Mitsui & Co., which helped scale its credit and logistics capabilities and expand into new markets.

    JSW One Valuation Journey to Achieving Unicorn Status
    JSW One Valuation Journey

    About JSW One Platforms 

    JSW One is a tech-first B2B e-commerce platform built to serve India’s construction and manufacturing MSMEs with a comprehensive suite of offerings ranging from procurement and credit to fulfilment and private brands. The platform leverages the JSW Group’s deep expertise in steel and cement, alongside proprietary technology and financing tools, to deliver an end-to-end digital experience.

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  • Satara on Tesla’s Radar for Next Assembly Hub

    According to reports, EV powerhouse Tesla is getting closer to entering India by establishing an assembly plant in Satara, Maharashtra. According to a media report, the Elon Musk-led company plans to establish a completely knocked down (CKD) plant to assist in controlling the import duties on its components.

    CKDs are assembly plants that enable local assembly capabilities for a business by shipping all of the various completed components of a car from various locations. This comes a few months after it was revealed that the Andhra Pradesh government has been working tirelessly to get the multinational EV manufacturer to invest by offering incentives and that its economic development board had even produced a pitch for the purpose.

    However, the attempts appear to have failed. According to the aforementioned article, which cited a source, Tesla was in negotiations with Megha Engineering, a company based in Hyderabad, and other businesses to purchase property in a joint venture for its CKD initiatives. However, the talks were unable to proceed.

    Tesla to Launch EV by Last Quarter of Current Fiscal Year

    By the end of the current fiscal year, it is anticipated that Tesla will be able to introduce its own constructed EVs. The development coincides with the resignation of Prashanth Menon, the leader of Tesla’s India division.

    According to additional reports, Menon has called for his resignation for personal reasons. It was previously reported that Tesla had received land offers from the state of Maharashtra in places like Chakan and Chikhalin, which are close to Pune. With domestic companies like Mahindra and Tata Motors operating there, Chakan is regarded as a centre for Indian automakers. Cooper Corporations, a supplier of vehicle components, is also based in Satara.

    Tamil Nadu and Gujarat were among the other states vying to host Tesla’s manufacturing facility. The amount of land that Tesla will purchase for its assembly plant project is currently unknown.

    Tesla has already decided on locations for its shops in Delhi and Mumbai. It has also signed an agreement with EFC, a coworking space organisation, to lease a 30-seat office space in Mumbai’s Bandra-Kurla Complex (BKC) for INR 3 lakh per month. On its website, Tesla states that it is also seeking Indians for a minimum of thirty different roles.

    India’s New EV Policy Providing Favourable Business Environment to Tesla

    The country’s new EV regulation has made it more conducive to Tesla’s commercial success, and the company’s efforts to enter India have accelerated. According to a new regulation that was implemented in March of last year, businesses who agree to establish manufacturing facilities in the nation will be required to pay a reduced charge on EV imports.

    According to the proposal, companies that agree to invest at least INR 4,150 Cr (about $500 Mn) in India to establish manufacturing facilities will have their import duties on vehicles with a cost, insurance and freight (CIF) value of $35,000 or more lowered by 15% for five years.

     In an effort to draw in foreign investment, India is also seeking to lower import taxes on 35 components needed in the production of EV batteries.

  • Hexaware Breaks Silence, Clarifies Stance on Layoff Rumors

    In response to recent worries about layoffs in its business process outsourcing (BPO) segment, Hexaware Technologies clarified that the cuts were not related to artificial intelligence (AI), as some media reports had claimed.

    The corporation clarified that the seasonality of its business activities was the main cause of the workforce adjustments. After a story by a renowned media outlet prompted the clarification, Hexaware responded in greater detail to another media house.

    Hexaware underlined in its statement that although AI may have long-term effects on the BPO sector, AI technology had nothing to do with the Q1CY’25 staff cutbacks. Rather, they were propelled by consistent business oscillations linked to seasonal demand in the BPO industry.

    BPO Business Witnessing Decline

    According to Hexaware’s description of the workforce changes in Q1CY’25, the BPO segment had a 500-person decline, while the IT division saw an increase of about 100 personnel. Variations in client needs and market conditions that affect demand at different times of the year were cited as the cause of this seasonal variability, which is typical in the BPO sector.

    The business recognised the increasing significance of AI and continued to invest in the technology with the goal of improving service delivery and operational efficiency. It emphasised, however, that the present layoffs were a reaction to the cyclical nature of the BPO industry and were not the result of these AI-driven initiatives.

    According to a Hexaware statement, its CEO provided an update on the overall workforce changes during Q1CY’25 in an interview with a media outlet on April 30, 2025. He brought up the possible long-term effects of AI on the BPO industry, but it’s important to make clear that the seasonality of the business—not AI—was the reason for the BPO workforce’s decline.

     This clarification was made in the midst of Hexaware’s impressive financial success. According to the company’s most recent Q1CY’25 earnings report, net profit increased 17.02% to INR 327.20 crore from INR 279.60 crore in the same quarter of 2024. Additionally, sales increased 16.7%, from INR 2748.80 crore in Q1 2024 to INR 3207.90 crore.

    Hexaware’s Overall Performance Remains Robust

    Hexaware’s overall performance is strong even with the BPO division’s employment cutbacks. In order to enhance its service offerings and operational efficiency, the company has made significant strides in its IT operations and is still investing in AI and other cutting-edge technology.

    A crucial component of Hexaware’s operations, the BPO industry is frequently impacted by shifts in customer needs and seasonal demand. The corporation clarified that these layoffs were consistent with industry norms, which dictate that companies adjust their workforces in response to market demands.

    Hexaware emphasised that the company’s strategic usage of AI was focused on increasing business process efficiency over time, even though the long-term role of AI in changing the BPO landscape is still possible.

    The company’s current workforce adjustments were unconnected to AI. Hexaware is still optimistic about its chances for future expansion. The business is well-positioned for future success because of its IT division’s impressive performance and its unwavering focus on creating AI solutions.

    Hexaware wants to remain at the forefront of industry trends as the BPO sector develops and new technical innovations are implemented, guaranteeing its capacity to adjust to the shifting needs of the market.