Wipro Limited reports developments as an India-based, AI-powered technology services and consulting company with American depositary receipts traded under WIT. Recurring updates cover IFRS financial results, IT Services segment revenue, bookings, operating margin, dividend and buyback matters, and governance items tied to its listings in India and on the New York Stock Exchange.
Company news also covers enterprise technology modernization engagements and software-delivery partnerships. Wipro’s AI-related offerings include Wipro Intelligence™, WEGA and WINGS, which are used in client programs involving application modernization, automation, agent-native development, cloud operations, customer experience and digital transformation across global enterprise sectors.
Wipro has expanded its partnership with Immuta to enhance data security for clients migrating to Snowflake. This collaboration will offer Wipro customers access to Immuta's data access solutions through Wipro’s Secure Data Analytics program, providing expertise from certified architects. Immuta's platform enables companies to enforce data policies and secure access across cloud sources, ensuring users get the right data at the right time. This partnership aims to improve secure data access during cloud migrations, benefiting organizations seeking enhanced data governance.
Wipro Limited (NYSE: WIT) has filed its Annual Report on Form 20-F for the fiscal year ending March 31, 2022, with the U.S. Securities and Exchange Commission on June 9, 2022. The report adheres to International Financial Reporting Standards (IFRS) and is available on Wipro's website for American Depository Shares (ADS) holders. Physical and electronic copies will be provided upon request. Wipro is recognized for its IT, consulting, and business process services globally, with over 240,000 employees serving clients across six continents.
Wipro Limited (NYSE: WIT) has adopted the RISE with SAP S/4HANA® private edition, aiming to enhance innovation and streamline business operations. This decision aligns with Wipro's ambitious growth agenda and commitment to digital transformation. The unified platform is expected to reduce operational costs and improve efficiency. Wipro will leverage its extensive experience and a $1 billion investment in cloud services to support its clients' transformation journeys. This strategic move positions Wipro as a leader in SAP solutions for global enterprises.
Wipro Limited (NYSE: WIT) has extended its strategic partnership with Crédit Agricole CIB, enhancing their longstanding collaboration. This agreement aims to support Crédit Agricole CIB in leveraging cloud technologies and agile practices, fostering innovation and efficiency in their banking services. Wipro will deploy a larger team of experts to strengthen the bank's infrastructure, ultimately improving client satisfaction and accelerating product development. Both Wipro and Crédit Agricole CIB express their commitment to advancing technology transformation in the banking sector.
VMware (NYSE: VMW) and Wipro (NYSE: WIT) are expanding their partnership to assist customers in modernizing applications and transitioning to the cloud with enhanced efficiency. This collaboration aims to simplify multi-cloud initiatives, addressing complexities that can impede application development.
The alliance combines VMware Cross-Cloud™ services with Wipro FullStride Cloud Services, promoting quicker deployment of modern applications while managing costs and risks. Together, they aim to help enterprises accelerate innovation and optimize cloud operations across multiple regions.
Wipro Limited (NYSE: WIT) reported robust financial results for the fiscal year ending March 31, 2022, with gross revenue of Rs 790.9 billion ($10.4 billion), marking a 27.7% increase YoY. IT Services segment revenue rose 27.3% YoY to $10,355.9 million. Net income reached Rs 122.2 billion ($1.6 billion), up 13.2% YoY, with EPS growing 17.0% to Rs 22.35 ($0.291). However, operating margin for the year fell 254 bps to 17.7%. Outlook for Q1 FY2023 anticipates revenue between $2,748 million and $2,803 million, reflecting 1% to 3% sequential growth.
Wipro Limited (NYSE: WIT) has announced the acquisition of Rizing Intermediate Holdings, Inc., a strategic move to enhance its SAP consulting capabilities. This acquisition aims to bolster Wipro's services in digital transformation and industry expertise, significantly expanding its market reach in sectors such as oil, gas, and manufacturing. The deal is poised to create a unique SAP service offering and is expected to close by the end of Q2 2022, pending regulatory approvals. Rizing will continue to operate under its brand, enhancing Wipro's leadership in SAP Cloud services.
Rizing LLC, an SAP-focused IT systems integrator, is being sold by One Equity Partners to Wipro Limited (NYSE: WIT). This move follows the company’s strategic growth through five acquisitions since 2018, aimed at diversifying revenue and increasing service capabilities. The acquisitions include companies in the U.S., Singapore, and Sri Lanka, enhancing Rizing’s global presence and customer base. The strategic initiative is expected to bolster Wipro's service offerings within the SAP ecosystem as Rizing continues to serve global clients effectively.
Wipro Limited (NYSE: WIT) will announce its fourth-quarter and annual results for the year ending March 31, 2022, on April 29, 2022, after market hours in India. A management conference call will follow at 7:30 PM IST (10:00 AM ET) to discuss the performance and answer questions. Interested parties can access the audio online and participate via dial-in numbers provided. Wipro is recognized for its IT, consulting, and business process services, employing over 240,000 staff globally.
Topcoder, a Wipro company, has successfully conducted a data science challenge for NASA, resulting in the detection of two previously unnoticed comets. The Marathon Match Challenge mobilized nearly 600 participants to develop AI/ML algorithms that enhance the detection capabilities of NASA’s SOHO satellite. As part of the competition, a total of $29,000 in prizes was awarded, with the winning algorithm earning $9,000 and recognition for the comet discoveries. This initiative aims to improve comet tracking and could extend its utility across other NASA missions.