Wipro Ltd
NYSE:WIT
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Wipro Ltd
Wipro Ltd., born from the enterprising spirit of Mohamed Premji in 1945 as Western India Vegetable Products Limited, has evolved into a global powerhouse in the information technology sector. Originally dabbling in the production of vegetable oils and refined goods, the winds of change in the 1980s prompted the company, under the visionary leadership of Azim Premji, to pivot towards IT services and consulting. This strategic transformation capitalized on India's burgeoning tech talent and the global demand for cost-effective IT solutions. Today, Wipro is a beacon in the IT services industry, offering a range of solutions including application development, systems integration, and IT consulting to enterprises around the globe.
The firm's revenue engine runs on several gears, with key drivers being its IT services, business process outsourcing (BPO), and digital strategy services. Wipro generates income by crafting tailored technology solutions that enhance client efficiency and innovation. By embracing digital transformation, cloud computing, and cybersecurity solutions, Wipro has become indispensable to businesses seeking to modernize and scale in a rapidly evolving digital landscape. Its robust strategic partnerships and investments in emerging technologies ensure it remains competitive and responsive to the demands of a dynamic marketplace. Through this finely tuned operation, Wipro creates value not only for its wide array of clients across different industries but also for its stakeholders, while continuously reinventing itself to stay ahead of the curve.
Wipro Ltd., born from the enterprising spirit of Mohamed Premji in 1945 as Western India Vegetable Products Limited, has evolved into a global powerhouse in the information technology sector. Originally dabbling in the production of vegetable oils and refined goods, the winds of change in the 1980s prompted the company, under the visionary leadership of Azim Premji, to pivot towards IT services and consulting. This strategic transformation capitalized on India's burgeoning tech talent and the global demand for cost-effective IT solutions. Today, Wipro is a beacon in the IT services industry, offering a range of solutions including application development, systems integration, and IT consulting to enterprises around the globe.
The firm's revenue engine runs on several gears, with key drivers being its IT services, business process outsourcing (BPO), and digital strategy services. Wipro generates income by crafting tailored technology solutions that enhance client efficiency and innovation. By embracing digital transformation, cloud computing, and cybersecurity solutions, Wipro has become indispensable to businesses seeking to modernize and scale in a rapidly evolving digital landscape. Its robust strategic partnerships and investments in emerging technologies ensure it remains competitive and responsive to the demands of a dynamic marketplace. Through this finely tuned operation, Wipro creates value not only for its wide array of clients across different industries but also for its stakeholders, while continuously reinventing itself to stay ahead of the curve.
Revenue Growth: Wipro reported IT services revenue of $2.64 billion for Q3, up 1.4% sequentially in constant currency and 0.2% year-over-year in reported terms.
Margin Expansion: Operating margin improved to 17.6%, expanding by 40 basis points over Q2 and 10 basis points year-on-year, marking one of the company’s best performances in recent years.
Deal Bookings: Total contract value for Q3 was $3.3 billion, with large deal bookings at $871 million; year-to-date bookings reached $13 billion, up 25% year-on-year.
Guidance Raised: Q4 revenue guidance was set at $2.635–$2.688 billion, indicating 0% to 2% sequential growth, and includes the HARMAN DTS acquisition.
AI Strategy: AI is a central theme in client discussions and new deals; Wipro is focusing on building industry AI platforms and expanding delivery capabilities.
HARMAN DTS Acquisition: Integration completed in Q3, contributing 0.8% to quarterly revenue and expected to strengthen Wipro’s engineering and AI offerings.
Dividend Update: The board declared an interim dividend of INR 6 per share, with annual shareholder cash distributions exceeding $1.3 billion.
