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Wipro Limited, headquartered in Bengaluru, India, is a leading global provider of information technology, consulting, and business process services. With a workforce of 175,000 employees worldwide, Wipro has established itself as a key player in the IT services sector.
Founded in 1945, Wipro has grown substantially over the decades, particularly in the IT services domain. The company leverages its offshore outsourcing model, deriving over 57% of its revenue from North America. Wipro offers a comprehensive range of services including traditional IT services such as consulting, managed services, and cloud infrastructure services, in addition to business process outsourcing (BPO).
In recent years, Wipro has achieved several key milestones. For instance, the company has forged strategic partnerships with industry leaders to expand its service offerings and enhance its technological capabilities. Wipro's investment in emerging technologies like artificial intelligence, machine learning, and cybersecurity has positioned it at the forefront of innovation in the IT sector.
One of Wipro's significant strengths lies in its diverse portfolio. The company serves various industries, including banking, financial services, manufacturing, retail, and healthcare. This diversification has enabled Wipro to maintain a stable financial condition, evidenced by its consistent revenue growth and profitability.
Wipro is also known for its commitment to sustainability and corporate social responsibility. The company has implemented numerous initiatives aimed at reducing its environmental footprint and contributing to the well-being of the communities it operates in.
Currently, Wipro is involved in several high-impact projects. These include digital transformation initiatives for global enterprises, the development of next-generation IT solutions, and the enhancement of its cloud and infrastructure services. These projects are expected to drive further growth and solidify Wipro's position as a global IT services leader.
Wipro Limited (NYSE: WIT) reported strong financial results for Q3 2022, with gross revenue rising to Rs 232.3 billion ($2.8 billion), a 3.1% QoQ and 14.4% YoY increase. IT Services revenue reached $2,803.5 million, up 6.2% YoY, while operating margin improved to 16.3%. Total bookings surged 26%, with large deal bookings soaring 69% YoY. Net income was Rs 30.5 billion ($369.1 million), growing 14.8% QoQ and 2.8% YoY. EPS rose 14.6% QoQ to Rs 5.57. Operating cash flow stood at 143% of net income, reflecting robust financial health. Wipro announced an interim dividend of Rs 1 per equity share.
Onapsis and Wipro Limited (NYSE: WIT) have announced a strategic collaboration aimed at enhancing cybersecurity and compliance for business applications during digital transformation. This partnership addresses the increasing vulnerability of SAP applications, with over 300 successful exploits per 1,500 attacks noted. The collaboration combines Onapsis’ security solutions with Wipro's professional services, facilitating secure digital transformation journeys for enterprises globally, particularly in Europe, the U.S., and Asia Pacific.
Wipro Limited (NYSE: WIT) will announce its third quarter results for the period ending December 31, 2022, on January 13, 2023, after the Indian market closes. The announcement will be followed by a conference call at 7:30 PM IST (9:00 AM ET) where senior management will discuss the results and address questions submitted by investors. Audio of the call will be accessible online. Wipro emphasizes its role in providing innovative technology solutions and its commitment to helping clients navigate digital transformation.
Wipro Limited (NYSE: WIT) has been chosen by Mazda Motor Logistics Europe to provide next-generation managed services for their entire application landscape. This partnership aims to centralize Mazda's operations, streamline business processes, and enhance efficiency through automation and agile DevOps practices. Alex Janssens from Mazda highlighted Wipro's cultural alignment and industry expertise as key factors in their selection. Wipro aims to implement innovative operating models to help Mazda achieve its long-term strategic vision.
Wipro Limited (NYSE: WIT) has been recognized as a Leader in the Avasant Manufacturing Digital Services 2022-2023 RadarView. The report commends Wipro's advancements in manufacturing through Practice Maturity, Partner Ecosystem, and Investments & Innovation. Significant investments in digital solutions help manufacturers address challenges like inflation and supply chain disruptions. Wipro's strong automotive sector offerings and strategic acquisitions bolster its leadership position, demonstrating its commitment to digital transformation in manufacturing.
Wipro Limited (NYSE: WIT) launched the Wipro Data Intelligence Suite at AWS re:Invent, designed to accelerate cloud modernization and data monetization. This solution aims to streamline migration from legacy systems to the cloud, enhancing agility and reducing costs. Emphasizing end-to-end automation, it supports businesses in transitioning smoothly while mitigating risks. The collaboration with Amazon Web Services is expected to boost productivity and quicken time-to-market for enterprises.
Wipro Limited (NYSE: WIT) has launched the AWS Skills Guild at AWS re:Invent 2022 to enhance employee engagement and client interactions through AWS Cloud training. This initiative aims to deepen Wipro's AWS competencies, empowering employees to drive cloud adoption and digital transformation in client organizations. The program will start in December 2022 and aims to significantly increase the number of employees with AWS Certifications, fostering a culture of continuous learning and innovation.
Wipro Limited (NYSE: WIT) has announced a new strategic cybersecurity consulting offering in Europe, fueled by recent acquisitions that enhance its consulting capabilities. This initiative aims to assist clients in navigating escalating cyber threats and evolving regulations. By leveraging a global network of over 9,000 cybersecurity experts, Wipro will provide tailored strategies and comprehensive solutions, including its CyberTransform and CyberShield services. This launch reflects Wipro's commitment to delivering end-to-end cybersecurity solutions at a critical time for businesses.
Wipro Limited (NYSE: WIT) has inaugurated its new Asia Pacific, Middle East and Africa Strategic Market Unit Headquarters in Dubai, UAE. The facility marks a significant expansion for Wipro, supporting growth in sectors like Financial Services and Telecom, generating around $1.5 billion in revenue. The headquarters will foster strategic partnerships and innovation, housing co-innovation spaces for collaboration with major technology partners. This move aligns with Dubai's vision as a global tech hub, supported by local leaders.
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