Wipro Stock Price, News & Analysis

Wipro Limited (NYSE: WIT) reported strong financial results for Q4 2021, with gross revenue reaching Rs 203.1 billion ($2.7 billion), marking a 29.6% year-over-year increase. IT services revenue grew 27.5% YoY, supported by a healthy operating margin of 17.6%. Net income was Rs 29.7 billion ($399.1 million), reflecting a 1.3% QoQ rise. The company added over 10,300 employees during the quarter and declared an interim dividend of Rs 1 ($0.0131) per share. Wipro expects IT services revenue for the next quarter to be between $2,692 million and $2,745 million.

Wipro Limited (NYSE: WIT) will announce its third quarter results for the fiscal year ended December 31, 2021, on January 12, 2022, after market hours in India. The results will be accessible on the company's investor website. Following the announcement, senior management will hold a conference call to discuss the results at 7:15 PM IST (8:45 AM ET). Participants are encouraged to submit questions prior to the call. Playback of the call will be available shortly after its conclusion, and detailed dial-in information is provided for global attendees.

Wipro Limited (NYSE: WIT) announced its acquisition of Edgile, a cybersecurity consulting provider, aiming to meet the growing demand for cybersecurity services among Global 2000 companies. The acquisition will enhance Wipro's cybersecurity capabilities and enable the development of Wipro CyberTransform™, an integrated suite for improved governance and strategies in cybersecurity. The transaction is expected to close by March 31, 2022, pending regulatory approval. Edgile has been recognized for its unique approach to cybersecurity and risk management.

Wipro Limited (NYSE: WIT) announced plans to acquire LeanSwift Solutions, a Florida-based integrator of Infor Products, aimed at enhancing Wipro's cloud transformation capabilities through Wipro FullStride Cloud Services. The acquisition aligns with Wipro’s strategy to strengthen its position in the Infor cloud services market, particularly in manufacturing and distribution sectors. LeanSwift has a record of delivering ERP and digital transformation solutions, with expertise recognized by Infor. The transaction is expected to close by the end of Q1 2022.

Oracle announced that Wipro will utilize Oracle Cloud Infrastructure (OCI) for its Cargo Reservations, Operations, Accounting and Management Information System (CROAMIS). This partnership aims to modernize the air cargo sector, addressing rising demand for efficient cargo transportation. Wipro will offer CROAMIS as part of its FullStride Cloud Services, leveraging OCI's superior performance, security, and cost-effectiveness. The application will facilitate automation across various air cargo processes, enhancing operational efficiency and reducing costs.

Wipro Limited (NYSE: WIT) has announced the launch of Wipro VisionEDGE, a digital signage and omni-channel advertising solution aimed at enhancing customer engagement across sports, retail, transportation, and entertainment sectors. This initiative is a result of Wipro's reinforced partnership with Cisco, enabling clients to unlock new business value and revenue streams. The solution will be marketed globally through the Cisco SolutionsPlus program. Both companies plan to invest further in marketing strategies and expand applications for the Wipro VisionEDGE solution.

Wipro Limited (NYSE: WIT) and Celonis have launched the Supply Chain Command Center, aimed at transforming supply chain management. The solution helps organizations to identify and resolve process inefficiencies, enhance productivity, and manage risks. It operates across planning, sourcing, developing, and delivering stages, allowing companies to adopt the service without upfront investment. This partnership reflects Wipro's commitment to driving digital transformation through innovative solutions, especially post-pandemic, providing enterprises with improved insights and automation opportunities.