The $150 billion plus Indian IT industry faced with the prospect of a single digit growth rate in the range of 7-8 per cent for FY18.
India’s third largest IT firm Wipro today posted a 1.2 per cent rise in its consolidated net profit at Rs 2,076.7 crore for the April-June quarter.
The company had reported net sales of Rs 55,420.9 crore in the fiscal ended March 31, 2017.
Premji along with his family own about 73.25 per cent shares in the company.
Wipro’s larger rival Tata Consultancy Services (TCS) had established its first all-women Business Process Services (BPS) centre in Riyadh in 2013.
The Azim Premji-led firm had registered a consolidated net profit of Rs 2,272 crore in the same quarter last fiscal.
The firm’s operating profit margin came in at 20.1%, a fall of 10 basis points over December quarter.
Members of the promoter and promoter group of Wipro have indicated their intention to participate in the proposed buyback.
The partnership with HealthPlan Services positions Wipro to participate in the shift of the US health insurance industry towards a consumer-centric business model.
The Kolkata-based workers were arrested earlier this month following a data security review by the London-based firm, which then alerted Indian police.
Operating margins for its IT services business fell to 20.2 per cent from 21.8 per cent a year earlier due to floods in Chennai where it employs 13 per cent of its staff.
The purchase is in line with the company’s “string of pearls” acquisition strategy and the second this month.
Wipro had also bagged a major contract in its digital business with the signing of a deal to be the IT partner of English Premier League team Chelsea Football Club.
The 39-year-old told an employment tribunal in London this week how her boss called her “a seductive dancer from Indian mythology”.
With ePragati, Andhra Pradesh becomes the first state in India to conceive and execute state-wide enterprise architecture.