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Tata Technologies Q3 Profit Slumps 96% on One-Time Labour Code Charge

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India’s engineering R&D firm Tata Technologies reported a 96% plunge in third-quarter profit, mainly due to a one-time charge linked to India’s new labour codes, marking its steepest profit drop since listing in 2023.

Net profit fell to 66.4 million rupees ($731,000) in the October–December quarter from 1.69 billion rupees a year earlier. The company booked a one-off charge of 1.4 billion rupees after the new labour rules raised gratuity and leave-related liabilities.

Despite the hit, CEO Warren Harris said the company expects a sharp rebound, forecasting more than 10% sequential revenue growth in the fourth quarter. CFO Uttam Gujrati added that margin pressure seen in Q3 is now behind the firm.

Overall revenue rose 3.7% to 13.66 billion rupees, with services revenue—about 77% of total—up 4.7%. Peer firms including TCS and HCLTech have also reported similar labour-code-related charges.

Apple Expands Partnership with Tata to Handle iPhone and MacBook Repairs in India

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Apple has deepened its collaboration with India’s Tata Group by handing over the repair business for iPhones and MacBook devices to Tata, two sources familiar with the matter revealed. This move underscores Tata’s expanding role in Apple’s supply chain as the U.S. tech giant shifts more manufacturing and operations beyond China.

Tata, which already assembles iPhones and components at three facilities in South India, will take over after-sales repairs from an Indian unit of Taiwan-based Wistron, called ICT Service Management Solutions. The repairs will be conducted at Tata’s Karnataka campus, where it also handles iPhone assembly.

The repair market in India is growing rapidly alongside soaring iPhone sales. Counterpoint Research estimates about 11 million iPhones were sold in India last year, boosting Apple’s market share there from 1% in 2020 to 7% in 2024.

Industry experts suggest this increased trust in Tata could pave the way for Apple to sell refurbished devices directly in India, similar to its practice in the United States.

Currently, Apple’s official service centers in India handle basic repairs, but complex fixes will be routed to Tata’s facility. Wistron’s ICT unit will continue servicing other clients but will no longer handle Apple’s repairs.

India’s rising importance in Apple’s global supply chain is also highlighted by CEO Tim Cook’s recent statement that most iPhones sold in the U.S. during the June quarter will be made in Indian factories. This shift comes amid growing concerns over tariffs and supply chain diversification away from China.

Neither Apple, Tata, nor Wistron responded to requests for comment.

India’s Push for Home-Grown Satellite Constellation Attracts 30 Aspirants

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India’s initiative to develop home-grown Earth observation (EO) satellite constellations has received a strong response, with 30 companies applying for a role in the project. This effort, managed by the Indian National Space Promotion and Authorisation Centre (IN-SPACe), is part of India’s strategy to reduce its dependence on foreign satellite data for critical sectors like defense, infrastructure management, and mapping.

Pawan Goenka, Chairman of IN-SPACe, announced that nine applications had been received, each representing a consortium of companies. These applicants include a mix of startups, such as Google-backed Pixxel and Baring Private Equity-backed SatSure, as well as larger entities like Tata Group’s Tata Advanced Systems. The project aims to establish satellite constellations that provide crucial data for various industries, including telecoms and climate monitoring. The satellite data market is expected to reach $45 billion by 2030, making it a significant global opportunity.

IN-SPACe issued a call for “expressions of interest” (EoI) in July to develop these homegrown satellite constellations. The initiative is part of India’s broader strategy to commercialize its space sector and ensure data sovereignty. The space regulator set eligibility criteria for the applicants, requiring them to invest at least 850 million rupees ($10 million) in space activities, have a company valuation of 8.5 billion rupees, or a turnover of 2 billion rupees in the last three years. Applicants must also establish spacecraft control centers in India or partner with ground station providers.

The evaluation of technical proposals is expected to be completed by the end of January, with a tender to determine the winning bidder to follow shortly thereafter. The government plans to provide a loan of up to 3.5 billion rupees to the winning company, with private entities expected to cover the rest of the costs. Additionally, India has set up a 10-billion-rupee venture fund to support space startups since the sector was opened to private players in February.

Although India currently relies on foreign EO data from entities like the European Space Agency (ESA) and the Indian Space Research Organisation (ISRO), the country is now focused on expanding its space capabilities and reducing its dependence on external sources.