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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 Limited (NYSE: WIT) has appointed Badrinath Srinivasan as Managing Director for Southeast Asia. Badri will drive business growth and client relationships in the region, focusing on large deals and transformational engagements. He joins Wipro from Infosys, where he led the Financial Services and Insurance verticals. Badri aims to leverage the increasing demand for digital transformation in Southeast Asia and enhance local capabilities while expanding Wipro's market presence. His leadership is considered pivotal for Wipro's growth strategy in this strategic market.
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On January 17, 2022, Wipro Limited (NYSE: WIT) and Mendix, a Siemens business, introduced ShiftSwap, a low-code solution for scheduling and shift management in retail. ShiftSwap aims to streamline work routines for in-store associates, enhancing productivity through faster application development, up to 10 times quicker than traditional methods. The solution will be showcased at the National Retail Federation 2022 event, promising improved employee experiences and real-time shift management capabilities. This collaboration is part of Mendix's Global Systems Integrators program.
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.
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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.