Bangalore based Wipro Technologies announced its Q1 results on Thursday. Compared to the last quarter, its net profit dropped to Rs 726 crore
Company says integration of various businesses will reap fruit.
IT major Wipro Technologies and Gurgaon-based knowledge process outsourcing firm Copal Partners have expressed interest in bidding for the Indian back office business of Lehman Brothers Holdings, the US-based investment banking firm that filed for bankruptcy protection on Monday.
India's third-largest software services exporter, Wipro said quarterly profit rose 11 per cent from a year earlier, in line with analysts' estimates, after an increase in orders boosted earnings.
Wipro joined its other information technology peers -- Infosys, Tata Consultancy Services and HCL Technologies in beating estimates.
Last week, Employees' State Insurance Corporation, a health insurer under the ministry of labour and employment, had said that its portals are facing technical problems, causing inconvenience to users.
IT company Wipro Infotech on Monday announced a tie-up with Red Hat to offer Linux services in India.
ATCO's subsidiary, ATCO I-Tek, will become a part of Wipro after the closure of the deal, which is expected to be completed in this quarter.
Companies now require more than just academic marks; they seek students with internship experience or extra certification courses.
Two days after the West Bengal government scrapped the ambitious IT project at Rajarhat, the Congress on Wednesday said IT majors like Wipro and Infosys should be given alternate land elsewhere in the state.
T K Kurien, chief executive officer of Wipro says the first milestone's been achieved and a complete turnaround would happen when there is consistency in growth.
Other than the involuntary attrition, the company has reported voluntary attrition of 11.9 per cent in the third quarter. This has resulted in a drop in the number of employees in the third quarter for the second time in the current financial year. The company started seriously looking at issues such as poor performance and fudged employment details in the second quarter of FY09 when the rate of voluntary attrition suddenly went up from just 0.5 per cent to 2.5 per cent.
Former Co-CEO of Wipro IT Business Girish S Paranjpe has joined the Silicon Valley-based Bloom Energy International as Managing Director. Bloom Energy International is a provider of breakthrough solid oxide fuel cell technology that produces clean, reliable, affordable onsite power.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Wipro Ltd, India's third-biggest software services exporter, posted about an 8 per cent rise in quarterly profit as clients in North America and Europe spent more on technology.
Information Technology giant Wipro would start its research and development project in Goa and the state government has already earmarked a land for the project, Goa's Information and Technology Minister, Dayanand Narvekar said on Wednesday.
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
For IT services companies, ESG (environmental, social, and corporate governance) metrics are becoming a crucial component in winning deals as clients are considering sustainability a top priority and are keen to work with partners who are on the same page. "Sustainability is becoming an important part of the client's evaluation. "There is a tremendous focus across the world on sustainability, and it is becoming one of the top five business priorities.
IT major Wipro Corporation will be allotted 85-acre land at the proposed Knowledge Industry township at Sholinganallur in the outskirts of Chennai, for expanding its software development centre, Tamil Nadu IT Secretary Vivek Harinarain has said.
Its total income was down 4.9 per cent at Rs 14,304.6 crore
The initiative will work on 40 areas in eight domains -- Energy & water, infrastructure, planning & buildings, Transportation, Public safety & justice, Tourism, recreation & culture, Education, Health and Social services & government administration.
Wipro has emerged as the leader followed by HCL , Patni, Infosys , Mahindra Satyam and MindTree in the rating of global R&D service providers across various countries like India, China, Russia and Eastern Europe, according to a study.
The West Bengal government unveiled a new model to allot 90 acres of subsidised plots each to software majors Infosys and Wipro near Rajarhat locality in the city at an unspecified rate.
IT major Wipro on Friday reported 9.75 per cent increase in consolidated net profit at Rs 1,284.9 crore for the second quarter ended September 30.
He is understood to have been promoted as a vice president,while he would continue in his present role as chief strategy officer.
Wipro Technologies has set up a separate group within its Telecom and Product Engineering practice to aggressively tap the opportunities in the telecom service providers' space.
India's third largest software company Wipro on Thursday said they are hopeful of some signs of recovery in the second half for the IT outsourcing services sector.
Wipro is contemplating vast expansion in Andhra Pradesh with proposed investment of Rs 950 crore (Rs 9.5 billion) that could generate employment for nearly 29,000 people.
At one time, the West's muktinationals ruled supreme. Now, the shining stars of India's Silicon Valley are shaking up the global IT business. A number of books have been written on the subject of late. Among them, Bangalore Tiger, which exposes the key principles of the IT giant Wipro's transnational business model, deserves special mention.
HCL Technologies was the biggest gainer in the Sensex pack, rising 5.58 per cent, followed by Tata Consultancy Services and Infosys, State Bank of India, Tech Mahindra, Tata Steel, NTPC and Wipro. In contrast, Nestle, Bharti Airtel, Maruti and ITC were among the laggards.
During the third quarter ended December 31, 2007, the company got its first $100 million (Rs 400 crore) account, which it had bagged almost four years ago as a $200,000 (Rs 80 lakh) per annum account.
The big three Indian IT exporters fell over 2-4 per cent on the BSE.
Infosys spent Rs 70 crore last year on its brand building exercise. The company underlines that it focuses on earning the respect of all its stakeholders.
Wipro has not been able to take similar strides in the health and financial sector as the competition has done, Azim Premji said.
Wipro Technologies, an information technology and outsourcing company, is poised to acquire the IT arm of a major company in Germany.
