Wipro founder Azim Premji has transferred 1.02 crore equity shares of Wipro held by him to his two sons --Rishad Premji and Tariq Premji-- as 'gift', according to exchange filing. The Wipro scrip is currently valued at Rs 472.9 per share, and at roughly this value, the transferred shares will amount to a whopping Rs 483 crore.
Rishad Premji, chairman of IT services major Wipro, saw his compensation for FY23 decline by almost 50 per cent year-on-year, due to a fall in the firm's profit. According to the Form 20-F, filed with the US Securities and Exchange Commission by Wipro, Premji's compensation for FY23 was $951,353, down 50 per cent from $1,819,022 in FY22. "Rishad A Premji is entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of Wipro Limited over the previous fiscal year. However, in light of the fact that the incremental consolidated net profits for fiscal year 2023 was negative, the Company determined that no commission was payable for fiscal year 2023 to Mr Rishad A. Premji," said the company in the filing.
IT major Wipro Limited has appointed Satya Easwaran, a former senior executive at consultancy KPMG, as its India head. Easwaran will be in charge of strengthening Wipro's business in India across key industry sectors through strategic consulting, transformation and modernisation engagements, it said in a statement on Monday. "India is a strategic market for Wipro and I am excited to welcome Satya to champion our bold ambition for growth and leadership here.
Bengaluru-headquartered IT services major Wipro Limited on Thursday announced that it has signed an agreement to acquire Capco, a global management and technology consultancy to the banking and financial services industry, for USD 1.45 billion.
IT services major Wipro on Friday said it will give wage hikes to junior employees with effect from September 1, 2021. "Wipro Limited will initiate merit salary increases (MSI) for all eligible employees up to Band B3 (assistant manager and below), effective September 1, 2021. "In January 2021, the company had announced salary hikes for eligible employees in these bands, who form 80 per cent of the company's workforce - this is the second hike in this calendar year," Wipro said in a statement. As announced earlier, all eligible employees above band C1 (managers and above) will receive pay hikes effective June 1, it added.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
Wipro's IT Business crosses $3 billion in FY 06-07;
Total Revenue increased by 41% YoY to Rs. 35.46 billion
Global IT Services and Products Profit before Interest and Tax (PBIT) was Rs 416 crores (Rs 4.2 billion).
Subject to customary regulatory approvals, the acquisition is expected to be completed during the quarter, the Bengaluru-headquartered company said. Financial details of the transaction were not disclosed.
With a 13 per cent rise in quarterly profit, India's third-largest software services exporter, Wipro limited, said on Wednesday that it was adapting successfully to the global meltdown.
Wipro said on Thursday that Azim Premji's son Rishad, chief strategy officer and member of the board, will take over as the executive chairman. Azim Premji, however, will continue to serve on the board as non-executive director and founder chairman.
Once implemented, Rishad Premji will be one of the youngest business leaders to don the role of non-executive chairman at a large cap Indian company.
Wipro Technologies, the global IT services business of Wipro Limited, on Tuesday announced that it has been recognized as a winner of the 2009 Global MAKE (Most Admired Knowledge Enterprises) Award for 'developing knowledge workers through senior management leadership' and 'Creating an environment for collaborative knowledge sharing.
Wipro Infotech - the Asia-Pacific and West-Asia arm of the $4 billion Wipro Limited - has restructured its operations. The company has transferred majority of its business to global IT division, Wipro Technologies. Wipro Infotech has also undergone other management changes, and re-alignment of various verticals. According to the mail, Anand Sankaran is being appointed chief executive of Wipro Infotech.
According to the tender offer, about 20.456,524 shares - representing about 100 per cent of issued and outstanding shares of Infocrossing -were validly offered and subsequently acquired by Wipro when the offer expired on September 17.
Premji said, Wipro is not feeling the "effects" of the eurozone crisis.
The flagship IT services revenues declined 3.3 per cent on a yearly basis to $1033 million, which was a sequential decline of 1.3 per cent. Sounding optimistic on the software services revival, Azim Premji the billionaire chairman of Wipro Limited said: "We are starting to see the first signs of stability in the business as ramp downs start to taper off and volumes start to stabilise.
Bangalore-based software giant has teamed up with eminent cartoonist Mario Miranda to create an advertising campaign that will light up its recruitment brand. The Goa-based cartoonist will educate potential recruits about Wipro through his characters.
Wipro BPO has opened a centre in Cebu, the Philippines, as a part of its global strategy.
Wipro has entered into a definitive agreement to acquire Oki Techno Centre Singapore Pte Ltd (OTCS), a wholly-owned subsidiary of OKI Electric Industry Co Ltd.
Wipro Technologies, the global IT services division of Wipro Limited, signed a licensing and advanced development deal to jointly develop an advanced mobile and remote workforce management system.
Wipro Limited, the $5 billion software to soaps major, has reported a 25 per cent increase in its net profit for the first quarter of the current fiscal as against the corresponding period of last fiscal. The topline has increased by 43 per cent.The net profit has smarted up to Rs 908 crore (Rs 9.08 billion)for the first quarter, while the topline has moved to Rs 5,967 crore (Rs 59.67 billion).
Wipro has acquired European retail solutions provider Enabler.
The company over the past two years has spent a little over $500 million (little over Rs 2,000 crore) for around a dozen acquisitions.
Bangalore based Wipro Technologies announced its Q1 results on Thursday. Compared to the last quarter, its net profit dropped to Rs 726 crore
Wipro Limited Chairman Azim Premji on Wednesday made a veiled criticism on the Karnataka government's failure to develop the state's infrastructure but sought to steer clear of making any controversial statement.
Wipro Limited Profit After Tax grew by 45% year on year (yoy) to Rs. 6.20 billion (Rs. 620 Crores), Total Revenue increased by 39% yoy to Rs. 31.43 billion (Rs. 3,143 Crores)
Wipro Technologies, the global IT services division of Wipro Limited, has been rated as a top leader among offshore service providers by industry analysts IDC in a comprehensive study of 21 offshore players around the world.
Wipro Infotech, Middle East and Asia Pacific the information technology arm of Wipro Limited, announced on Thursday a strategic alliance with the US based Sistina Software Inc.
With George W Bush returning as the US president for the second successive term, Wipro Spectramind, the BPO arm of IT major Wipro Limited, is bullish about growth and adding 1,800 to the existing headcount every month at its facilities.
The company's total revenues increased 30% year-on-year to Rs 2,744 crore (Rs 27.44 billion) in this quarter from Rs 2,110 crore (Rs 21.10 billion) during the previous corresponding period.\n\n
Wipro Technologies on Monday announced the successful implementation of an e-Ticketing solution for easyCinema, a new venture of the Europe-based easyGroup.
India's leading software company, Wipro Limited, on Wednesday said it was looking at setting up an offshore business process outsourcing centre in one of the Asia-Pacific countries.
Wipro Limited on Friday announced that it's profit after tax for the quarter ended June 30, 2004, under the consolidated Indian GAAP (Generally Accepted Accounting Principles), grew by 73 per cent to Rs 357 crore (Rs 3.57 billion).\n\n\n\n
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