Company says integration of various businesses will reap fruit.
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.
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.
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.
Wipro joined its other information technology peers -- Infosys, Tata Consultancy Services and HCL Technologies in beating estimates.
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.
The early-bird results for the April-June quarter of 2024 (Q1FY25) hint at a slowdown in corporate revenues and profits in FY25. Corporate profits might face headwinds from a continued revenue growth slowdown and a reversal in margin gains from lower commodity and energy prices in FY24. The combined net profit (adjusted for exceptional gains and losses) of the 210 companies that have declared their Q1FY25 results so far is down 4.2 per cent from the year-ago period - their worst showing in seven quarters.
From the Sensex pack, HCL Technologies, Infosys, Wipro, Bharti Airtel, Larsen & Toubro, Mahindra & Mahindra, Tata Consultancy Services and Asian Paints were the major gainers. Axis Bank, IndusInd Bank, Bajaj Finance, JSW Steel, State Bank of India and Tata Steel were among the major laggards.
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.
Among the Sensex firms, Bajaj Finance, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Asian Paints, Hindustan Unilever, Tata Motors and JSW Steel were the major laggards.
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.
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.
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.
Among the Sensex firms, State Bank of India rose the most by 3.78 per cent after the bank announced the acquisition of SBI CAPS subsidiary for Rs 708.07 crore. Nestle India gained 1.68 per cent after it reported around 9 per cent growth in sales. JSW Steel, Bajaj Finance, Axis Bank and Asian Paints were among the gainers.
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.
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.
Among Sensex shares, HCLTech, Asian Paints, Maruti, JSW Steel, TCS, SBI, ITC and Bharti Airtel were the major losers. On the other hand, Bajaj Finserv, Mahindra & Mahindra, Titan, L&T and Wipro were the major gainers.
India's information technology (IT) sector will witness subdued hiring in 2023-24 as macro uncertainties impact demand environment, with clients either taking a pause on spend or stopping discretionary spend, say human resource experts. To begin with, unlike earlier years, the three large IT players TCS, HCLTech, and Wipro have not provided any new hiring targets for the financial year. And Wipro has said that its hiring target will depend on the demand environment.
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 HCL Technologies' Shiv Nadar has retained his position as the 'most generous Indian' in 2023 as well, with a 76 per cent jump in his donations at Rs 2,042 crore. Wipro's Azim Premji's donations zoomed by 267 per cent to Rs 1,774 crore during the same year, according to the Edelgive Hurun India Philanthropy List 2023 released on Thursday. Richest Indian Mukesh Ambani donated Rs 376 crore in the year, which is an 8 per cent decline.
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.
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.
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.
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.
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.
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.
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.
As a venture partner, DVP said that Neemuchwala would be bringing deep technology expertise and invaluable experience of building businesses.
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.
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.
Among the Sensex firms, HCL Tech, Wipro, Tata Consultancy Services, Tech Mahindra, Nestle, Tata Motors, Infosys, Bharti Airtel, UltraTech Cement and Tata Steel were among the laggards. On the other hand, Axis Bank, HDFC Bank, ICICI Bank, JSW Steel, Mahindra & Mahindra and Kotak Mahindra Bank were the major gainers.
Benchmark equity indices ended marginally higher on Thursday, trimming most of their intra-day gains, as investors turned cautious ahead of the quarterly results of IT behemoths TCS and Infosys later in the day. Announcement of the US inflation data and domestic macroeconomic numbers also forced investors to remain on the sidelines. The 30-share BSE Sensex climbed 63.47 points or 0.09 per cent to settle at 71,721.18.
The big three Indian IT exporters fell over 2-4 per cent on the BSE.
