While various political parties and business organizations have centered their focus on achieving economic growth ahead of imminent general elections, Wipro chairman Azim Premji has stressed on the need of inclusive growth.
Addressing a gathering at 13th graduation day of Indian School of Business (ISB) on Sunday, Mr. Premji said that India doesn't need just growth; rather it needs inclusive growth.
He said there was a need to be conscious of the reality of extraordinary inequality, deprivation and injustice prevalent across the country.
Indian IT services provider Wipro has confirmed the organizational restructuring of its business segments and the elevation of Vice President Saurabh Govil as head of human resources.
Wipro announced that it has combined two of its verticals, viz. the advanced technologies and analytics, into a single unit.
The advanced technologies segment was created under the headship of CEO T. K. Kurien to focus on new areas of business for the company. Analytics is a key growth driver for the company, currently contributing nearly 7.2 per cent to its total revenue.
Indian IT-services exporter Wipro on Friday reported the highest sequential increase in dollar revenue in the last eight quarters, and expressed optimism that its sales would continue to grow in the current quarter.
The country's No. 3 software services exporter reported an increase of 2.9 per cent in dollar revenue to $1,678.4 million for the October-December quarter of 2013. The growth exceeded the lower-end of its forecast of 1.8 per cent to
3.6 per cent for the quarter under review.
Information technology (IT) giant Wipro has accused the Bangalore municipality of resorting to high-handedness and arm twisting tactics to force the company to pay alleged property tax dues.
Wipro on Thursday alleged that some officials and corporators of Bruhat Bangalore Mahanagara Palike (BBMP) reached its Sarjapur-based campus and used high-handedness and arm twisting tactics for around seven hours.
The company added that the action was taken without issuing any prior notice to the company.
Wipro shares lost more than 8 per cent in morning trade on Wednesday after analysts pointed out that the information technology (IT) firm's September quarter results lagged those of peers.
Wipro's consolidated revenue jumped 13 per cent quarter on quarter to Rs 10,992 crore in the July to September quarter. Services EBIT margin jumped by 250 basis points to 22.5 per cent.
However in dollar terms, the Bangalore-based company's revenue grew just 2.7 per cent quarter on quarter in the three months ended September 30.
Indian software firm Wipro has expressed concerns over the recently draft U. S. immigration bill, saying it might burden Indian firms operating in the U. S. with additional costs.
Azim Premji, chairman of Wipro, said the immigration bill, which was unveiled on Thursday, might restrict Indian IT firms’ access to H-1B and L1 visas that Indians require to work in the U. S.
However, Mr. Premji also said that they were still studying the provisions of the U. S. immigration bill that run into over eight hundred pages, adding that active lobbying would decide the eventual shape of the bill.
Software services provider Wipro Ltd on Friday reported a bigger-than-expected increase in its profit for the three months ended March 31, 2013.
The third-largest Indian software maker announced that its consolidated net profit jumped 16.7 per cent year-on-year, from Rs 14.81 billion in the January-March quarter of 2012 to Rs 17.29 billion in the same quarter of 2013.
A group of analysts surveyed by Thomas Reuters had projected consolidated net profit of Rs 17 billion for the company.
Looking at the Sensex scenario for today's trade, it can be said that it had a mixed day. It has been said so at one place where Tata Consultancy Services witnessed a rise of 1%.
On the other hand, two other major IT companies Wipro and Infosys witnessed a decline in their shares. To start with Tata Consultancy Services, it has been found that it is going to buy Alti SA for 75 million Euros.
Wipro has not performed well on Bombay Stock Exchange (BSE). Its shares have been found to have dropped by 11.43% amounting to Rs 397.20.
Experts have been saying that the decline is the result of transfer of its non-IT businesses to Wipro Enterprises. The latter company is a separate but unlisted company of Wipro. Therefore, there are chances that the decline could have taken place due to same.
Wipro Ltd, India's third largest software services provider, on Thursday joined TCS Ltd and Infosys Ltd in reporting better-than-expected quarterly earnings.
Wipro announced that its net profit for the quarter through December 2012 jumped 18 per cent year-on-year, from 14.56 billion rupees to 17.16 billion rupees. The reported net profit figure is much better that analysts' average estimate of 16.45 billion rupees.