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Wipro News
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The IT services segment revenue was at USD 2,587.4 million, a decrease of 0.3 per cent QoQ and 1.5 per cent YoY. The IT services operating margin for the quarter was at 17.3 per cent, a contraction of 0.2 per cent QoQ and expansion of 0.8 per cent YoY.
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It had reported a profit (attributable to equity holders of the company) of Rs 2,834.6 crore in the year-ago period.
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Wipro Limited today announced financial results under International Financial Reporting Standards (IFRS) for the quarter ended December 31, 2024.
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Among Nifty companies, only 11 stocks advanced while 38 ended in the red. Adani Enterprises, Tech Mahindra, HCL Technologies, IndusInd Bank, and Shriram Finance emerged as the top gainers.
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Stock Market Today: Among the top gainers were Shriram Finance, Bajaj Finserv, HCL Technologies, Wipro, and Infosys, which supported the indices amid cautious trading.
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Wipro reported 6.8 percent quarterly growth and 21.3 percent annual growth. The company's net income in the July-September period (Q2 FY25) was at Rs 3,209 crore.
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In addition to his salary and commission he received 7 million dollars in additional payments and over 4 million dollars in long-term compensation.
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Vinay Firake holds a Master's degree in Business Administration with a focus on Finance and a Bachelor's degree in Computer Engineering.
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The solutions will also utilise Microsoft Azure Document Intelligence, which uses advanced machine learning to extract text, key-value pairs, and structures from documents.
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Employees whose attendance is between 60-75 percent will be eligible to receive 50 percent of the variable pay.
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Wipro also recorded one of the highest declines of 24,516 in the headcount on a year-on-year basis to 2,34,054 during the just-ended fiscal year.
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Delaporte, aged 56 and originating from France brings with him thirty years of experience in the global IT industry.
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Wipro plans mid-level layoffs at onsite locations to boost profits amid industry competition challenges.
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Benchmark Sensex dropped 359 points as Nifty closed below 21,400 due to IT sell-off and foreign fund outflows. Global factors and weak corporate results influenced the decline.
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On January 23, Azim Premji transferred over 51 lakh shares each to his sons, Rishad Premji, who is the chairman of Wipro, and Tariq Premji, serving as Wipro Enterprises non-executive director.
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Wipro's competitor Infosys posted a 7.3 percent decline in net profit, while Tata Consultancy Services and HCL reported an 8.2 percent and 6.2 percent increase in consolidated profit in the this quarter of the ongoing fiscal.
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In 1981, undeterred by the rejection, Narayana Murthy founded Infosys with six friends and a humble Rs 10,000 seed money provided by his wife, Sudha Murty.
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The company's IT Services segment revenue dropped 4.5 percent on a year-over-year basis to Rs 22,150.8 crore during the reported quarter from Rs 23,196 crore during the same period of 2022.
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Indian IT company Wipro has announced that all employees must work from office at least 3 days each week starting from November 15.
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The Indian IT services sector has been contending with soft demand for the last three quarters as clients delayed deal-making decisions or are outright cutting back on expenditure. Businesses are reducing spending on discretionary IT projects amid steep inflation that has resulted in higher interest rates.
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