WIPRO OPERATING MARGINS
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Nomura turns bullish on Indian IT sector, highlights Infosys, Coforge as top picks
Nomura bullish on Indian IT sector with top picks Infosys and Coforge, upgrades ratings for Wipro and HCL Technologies. Anticipates GenAI adoption boosting cloud services demand.
![Mid and small IT companies showed sustained improvement in revenue, profit share in March ’24 quarter](https://img.etimg.com/thumb/msid-111407931,width-100,height-75,resizemode-4/markets/stocks/news/mid-and-small-it-companies-showed-sustained-improvement-in-revenue-profit-share-in-march-24-quarter.jpg)
Mid and small IT companies showed sustained improvement in revenue, profit share in March ’24 quarter
Small and medium sized IT companies continued to show year-on-year improvement in the share of aggregate revenue and profit of the sector in the March 2024 quarter though the extent of improvement has tapered down implying resilience from the top tier companies.
![Under Pallia’s leadership, we are in for a bright future together: Wipro chairman](https://img.etimg.com/thumb/msid-111239477,width-100,height-75,resizemode-4/tech/information-tech/under-pallias-leadership-we-are-in-for-a-bright-future-together-wipro-chairman.jpg)
Under Pallia’s leadership, we are in for a bright future together: Wipro chairman
Wipro chairman Rishad Premji expresses confidence in new CEO Srini Pallia's leadership, foreseeing a bright future for the IT services company under Pallia's guidance.
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IT industry's competitive intensity to be at highest levels in FY25: HCLTech CEO C Vijayakumar
Despite a challenging economic environment, HCLTech has achieved remarkable annual growth and outpaced larger competitors. The third-largest software services firm, with annual revenues of $13.27 billion, reported growth that outpaced Tata Consultancy Services 4.1% and Infosys 1.4%. Smaller players such as Wipro and Tech Mahindra faced significant struggles.
![Green shoots seen in rural demand: Wipro Consumer CEO](https://img.etimg.com/thumb/msid-110919585,width-100,height-75,resizemode-4/industry/cons-products/fmcg/green-shoots-seen-in-rural-demand-wipro-consumer.jpg)
Green shoots seen in rural demand: Wipro Consumer CEO
Vineet Agrawal, CEO of Wipro Consumer Care and Lighting, noted positive signs of growth in rural demand and anticipates a recovery in the hinterland by September, supported by favorable monsoon conditions and a successful harvest. Furthermore, he suggests that stable government policies could potentially boost sales of discretionary products through continuity and consistency.
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Sandip Agarwal's 4 top bets from IT sector for near term
I think now the attrition rates are under control. Margin should expand because margin is a direct factor of where your attrition is, utilisation is. So, I think the revenue growth I do not see will pick up very substantially immediately, because if at all the ECB rate cut has happened, now in US also we are expecting some cool off to happen on the rate front.
IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
IT’s bench strength halves as slump-hit companies eye efficiencies
The bench strength at top Indian outsourcers has nearly halved of late, with higher utilisation and generative artificial intelligence (GenAI) driving efficiency in the $254-billion IT industry. Bench strength in the IT industry means full-time employees who are not assigned any active project.
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Go Digit’s D-Street debut; Honasa Consumer Q4 financials
Shares of Go Digit General Insurance started trading on the stock market Thursday. More on this in today’s ETtech Top 5.
Delhivery slides back to losses; Prosus names new CEO
Logistics startup Delhivery fell back into the red for the March quarter but managed to narrow its losses on a year-on-year basis. This and more in today’s ETtech Top 5.
IT sweats to eke out margins on pricing squeeze, staff costs
Indian outsourcing companies face a margin squeeze in FY24 due to a triple threat: aggressive deal pricing, rising employee costs, and the pressure to boost revenue despite tight global budgets. Notably, Tata Consultancy Services (TCS), the industry leader, seems to be the only exception.
Wipro shares jump 2% as investors spot few bright spots in Q4 results
"About 80% of Wipro's revenue decline over 2QFY23-3QFY24 has come from BFSI alone. A return to growth in BFSI should therefore help stem the erosion," said JM Financial's Abhishek Kumar.
Sustained deal momentum and margin improvement augur well for Wipro
Wipro’s net profit rose by 5.2% sequentially to Rs 2,834.6 crore in the March quarter, much faster than the analysts’ average estimate of 2.5% growth. It was driven by a 40 basis point improvement in the operating margin at 16.4%, again higher than the expectation of a 20 basis point expansion.
Wipro Q4 Results: Profit falls 8% YoY to Rs 2,835 crore, marginally misses estimates
Wipro Q4 Results: Wipro reported an 8% YoY decrease in net profit to Rs 2,835 crore for the quarter ended March 2024. PAT is slightly below estimates. Operating margins at 16.4%. Future outlook optimistic with a focus on AI transformation.
Why hasn’t Infosys upgraded margin guidance if TCVs are at record high? Sandip Agarwal asks
Sandip Agarwal asks: "Despite a strong TCV, why is the growth guidance so low? We are not able to connect the dots of what is pulling down growth so much and why they are projecting this kind of growth. In my view, this guidance and these numbers are on the lower side of what anyone would have been anticipating."
As Wipro gets a new CEO, a look at its woes in four data charts
The change of guard at Wipro is coming at a time when the IT major's operating margins are the lowest among its peers. And the change comes at a time when clients are in no mood to ramp up big budget transformation deals.
Wipro has margin headroom available in terms of improvement ahead: Mahantesh Sabarad
Mahantesh Sabarad notes that while there was no QoQ growth, the margin beat of 16% is surprising. He attributes this to the restructuring of Wipro's businesses and reallocations of costs. The margin beat is led by strong operational improvements and automation-led efficiencies. Sabarad expects the beat to sustain due to continuing deal wins.
Wipro Q3 Results: Operating margin beat, deal wins among 5 key takeaways from earnings card
The IT major has guided for -1.5% to 1% sequential growth in its IT services business revenue. This translates to a revenue of $2.62-$2.67 billion in the March quarter in constant currency terms. Most analysts had expected Wipro to give -1% to +1% growth in constant currency revenue.
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