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Wipro Q4FY18 results: Profit falls 20% to Rs 18 bn for the March quarter
Posted on 25th April 2018
Wipro on Wednesday posted over 20 per cent decline in its consolidated profit to Rs 18 billion for the March quarter, 2017-18.

The country's third-largest software services firm had registered a profit of Rs 22.67 billion in the year-ago period, as per Indian accounting norms.


Wipro Consumer Care scouts for acquisitions in developing countries
Posted on 19th April 2018
Mumbai: Wipro Consumer Care and Lighting is scouting for personal and home care acquisitions in the Middle East, Indonesia, Vietnam, China and India, chief executive officer Vineet Agrawal said.

The consumer care unit of Wipro Ltd making Santoor soaps and Yardley fragrances started as an oil crushing unity in the 1940s, and now earns more than half of its revenues from international operations.


Wipro shares tank 2.5% as client’s insolvency weighs on profitability of India’s 3rd largest IT company
Posted on 10th April 2018
Shares of the Bengaluru-headquartered IT giant Wipro tanked over 2.5% to the lowest level since 28 March 2018 after the company said that client’s insolvency weighs on the profitability and revenue of India’s third-largest IT company Wipro. The stock of Wipro marked the lowest level since 28 March 2018 and the biggest intraday drop since 26 March 2018. Earlier yesterday, Wipro said that the revenue and profitability will be impacted due to an insolvency petition filed by an Indian telecom client.

Wipro opens tech centre in Texas for advanced analytics, to grow headcounts
Posted on 28th March 2018
Wipro, India’s third largest information technology services company, on Tuesday said it has opened a technology center in Plano, Texas, and plans to grow its headcount to 2000 in the US state over next few years. The Bengaluru-headquartered company has around 1400 employees working in Texas alone.

The Texas technology centre which will initially employs around 150 people, is focused on developing capabilities in new and emerging technologies.


Wipro to sell hosted data centre business to US firm Ensono for $405 mn
Posted on 15th March 2018
Wipro, India's third largest IT services firm, has signed a definitive agreement to divest its hosted data centre business to Illinois-based hybrid IT services provider Ensono for $405 million (Rs 26.26 bn). The data centre business of the company consists of Wipro Data Centre and Cloud Services, Inc in the US and a portion of datacenter business in Germany and the UK.

Elliot, known for shaking up companies, buys tiny stake in Wipro
Posted on 12th March 2018
Billionaire Paul Singer’s Elliott Management Corp. has bought a stake in Wipro Ltd., its first ever purchase of an Indian-based software outsourcer. The New York hedge fund acquired 1.855 million American depositary receipts, or about 0.04 percent of Wipro’s share capital, according to a filing with the U.S. Securities & Exchange Commission.

Wipro invests $8.8 million in US company
Posted on 2nd March 2018
India’s third largest IT services exporter Wipro has announced an investment of $8.8 million to pick up 33.3% stake in Denim Group, a US based application security firm. Through this investment, Wipro now plans to jointly leverage along with Denim Group to address the cybersecurity market.

Wipro launches home automation solution ‘Wipro Z Nxt’
Posted on 20th February 2018
Wipro consumer care and Lighting has launched Wipro Z Nxt, an integrated home automation solution. The system helps user get the complete control of the house/office components with the help of their smartphones. It integrates easily with all the home appliances without replacing the existing switches and wires. All electrical appliances can be easily controlled from an android/iOS app, a remote controller and through voice recognition.

Wipro makes first management change under Abidali Neemuchwala
Posted on 7th February 2018
Bengaluru: Wipro Ltd has entrusted its current head of manufacturing and technology practice to head the energy vertical, and created a new role for the head of oil and gas practice, marking the first management changes under chief executive Abidali Neemuchwala, who took over as boss of India’s third largest information technology (IT) outsourcing company in February 2016.

Wipro invests $9.9 m in US firm for 16% stake
Posted on 25th January 2018
Wipro, the country’s third-largest IT services exporter, has announced $9.9-million investment in US-headquartered digital marketing company Harte Hanks to pick up a 16% stake. In a notice to the exchanges, Wipro said under this deal, both companies will expand their existing partnership to offer end-to-end marketing technology services. They will jointly market a big data analytics and machine learning platform, Opera Solutions Signal Hub. Harte Hanks, which was founded in 1923 with more than 5,000 employees globally, reported a net loss of $2.7 million for the second quarter of 2017 calendar year.

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