The loss was driven by the one-time charge related to the deemed repatriation tax on undistributed earnings of foreign subsidiaries.
Firm’s new programme allows disruptive ventures here to pitch to its international clients.
LiquidHub was up for sale since the middle of last year, and private firm Apax Partners, Cognizant, Accenture and Capgemini were in the running, media reports said.
India has 15 around cryptocurrency exchanges.
The finance minister also singled out emerging technologies like artificial intelligence (AI), internet of things (IoT) and 3D printing, nudging policy think tank NITI Aayog to start a national programme that will stoke research and result in applications in these areas.
"Niti Aayog will establish a national programme to direct research efforts in new-age technologies," Jaitley announced in his Budget speech in Parliament.
The company’s patent portfolio stood at 300 patents, out of which 228 are co-authored with its customers and 72 are filed by LTTS.
“The idea behind the partnership is to have leadership. The IT company will have its niche, while the new KPIT will be a specialized automotive engineering company.
KPIT, which is publicly listed, said its board approved the plan of amalgamation with Birlasoft and the demerger of its engineering business into KPIT Engineering (KEL).
The growth has resulted from investments made as part of a new strategy, said CEO Nitin Rakesh, who took charge of the Bengaluru-based company a year ago.
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