Last updated: 13 Jan, 2021 | 12:51 pm
Wipro has delivered a second consecutive quarter of strong performance on order booking, revenue and margins. This is just the second quarter under the new CEO Theirry Delaporte. While Wipro has lagged its larger peers in growth the last few years, it could reduce the gap going forward, as earnings visibility improves. In December, Wipro had signed a $700-million takeover deal with Metro AG. With the intention to extend up to 4 additional years, it can be a potential spend of up to $1 billion.
Wipro has reported better-than-anticipated numbers. Wipro has seen an excellent quarter with growth in revenues, expansion of margins and robust cash generation. While the ongoing pandemic has affected various businesses, it has forced a tectonic shift in businesses processes to move towards greater digitization providing a good opportunity for the IT industry. Going forward, Wipro is confident of delivering long-term sustainable growth.