Wipro Ltd (WIPRO)

Wipro Bags Multi-Million Dollar Deal, Elevates Hari Shetty - 02 May, 2024

Wipro secures multi-million dollar contracts from Nokia, improves utilization levels, elevates Hari Shetty as Chief Strategist. Additionally, it is selected by Independent Health to implement the MPPP360 platform.

Wipro Announces Contract With Nokia and New CEO Remuneration Package - 01 May, 2024

IT firm Wipro has announced a multi-year, multi-million-dollar contract with Nokia to develop an AI-powered solution for digital workplace support. Additionally, the company's newly appointed CEO, Srinivas Pallia, is set to receive an annual remuneration package of up to $6 million.

Wipro Wins Multi-Million Dollar Deal from Nokia - 30 Apr, 2024

Wipro has won a multi-million dollar deal from Nokia to overhaul its employee service desk and provide seamless, real-time IT support globally. Additionally, Wipro's new CEO is set to receive up to $6 million in annual remuneration, while the company launches its own think tank to navigate emerging technologies.

Wipro Sees Changes in Leadership and Investments - 29 Apr, 2024

Wipro sees changes in leadership as Thierry Delaporte resigns as CEO and is replaced by Srinivas Pallia. The company also reports an 8% YoY decline in consolidated net profit. Meanwhile, Azim Premji's family office, PremjiInvest, plans to invest more in AI companies. Wipro's innovation lab, Lab45, launches a Think Tank to help enterprise leaders prepare for a future with emerging technologies.

Wipro Reports Decline in Net Profit and Offers Generous Severance Package to Departing CEO - 27 Apr, 2024

Wipro's Q4 FY24 net profit declined by 8%, while revenue fell by 4%. The company added 24,516 fewer employees in FY24, with the headcount decreasing by 6,180 in Q4. Wipro offered a generous severance package of Rs 92.1 crore ($11 million) to their departing CEO Thierry Delaporte.

Wipro Reports Strong Free Cash Flow and Pays Ex-CEO Severance Pay - 26 Apr, 2024

Wipro Limited reports an accrual ratio of -0.11 for the year to March 2024, indicating strong free cash flow. The company also pays outgoing CEO Thierry Delaporte Rs 92.1 crore in severance pay with a condition that he doesn't take up another job within a year.

Wipro Invests $1 Billion for AI Proficiency; CEO Receives $11 Million Separation Payment - 25 Apr, 2024

Wipro is investing $1 billion to advance its AI proficiency over the next three years. Meanwhile, outgoing CEO Thierry Delaporte will receive a $11 million separation payment following his premature departure. Wipro also saw a drop in employee headcount in FY24.

Wipro Q4FY24 Results Beat Profitability Estimates - 24 Apr, 2024

Wipro reported better-than-expected Q4FY24 results with revenue of INR 2,22,083 Mn (flat QoQ) and EBIT of INR 35,501 Mn rose by 8.9% QoQ. PAT jumped by 5.8% QoQ to INR 28,582 Mn due to better-than-expected operational performance. However, the attrition rate of 14.2% came in above estimates, and total bookings stood at USD 3.6 Bn (-14.0% YoY) in CC terms. Target Price lowered to INR 472 per share with a HOLD rating.

Wipro Stock Climbs Despite Below Market Expectations Guidance - 23 Apr, 2024

Despite reporting a decline in consolidated net profit for Q4FY24, Wipro's stock climbed 2%. ICICI Securities recommends reducing Wipro's stock and sets target of Rs 410.

Wipro Shares Gain After Q4 Profit Meets Estimates - 22 Apr, 2024

Wipro's Q4 profit met analysts' estimates, but brokerages remain cautious about its revenue growth potential. Citigroup maintained a sell rating and lowered EPS estimates by 2%. Sharekhan maintains HOLD with a revised PT of Rs.500. Wipro CEO outlines business turnaround plan. Zydus Animal Health and Investments to acquire 6.5% equity stake in Mylab.

Wipro Reports Flat Revenue for Full-Year 2024 - 21 Apr, 2024

Wipro reports flat revenue for full-year 2024, with a decrease in net income YoY. The company's Q4 FY24 results also show a decline in revenue and profit YoY, with EPS at ₹5.51. Shares are down 3.8% from a week ago. Additionally, the company had a high wage burden in Q1 FY25.

Wipro Reports Decrease in Headcount and Decline in Q4 Net Profit - 20 Apr, 2024

Wipro reported a decrease in its total headcount for FY24 and a flat attrition rate of 14.2%. The company's Q4 net profit declined 8% YoY to Rs 2,835 crore, while consolidated revenue from operations declined 4% YoY to Rs 22,208 crore.

Wipro Reports Q4 FY24 Results; Unveils Five Focus Areas to Turn Around Company - 19 Apr, 2024

Wipro reported a Q4 FY24 net profit of Rs 2,835 crore with a decrease in consolidated revenue by 4.2%. The board approved the re-appointment of Rishad A. Premji as executive chairman. CEO Srinivas Pallia unveiled five focus areas to turn around the company.

Wipro Expected to Report Muted Q4 Earnings Amid Weak Demand Environment - 18 Apr, 2024

Wipro's Q4 earnings are expected to be flat or decline YoY, with a marginal fall in revenue and small rise in net profit. The company faces ongoing challenges in consulting and hi-tech sectors, and its significant exposure to the BFSI sector could further impact revenue outlook. Wipro's EBIT margin is also likely to face downward pressure during the quarter due to recent wage increases.

Wipro's Q4 Earnings Expected to Be Subdued Amid Challenging Demand Environment - 17 Apr, 2024

Analysts anticipate a decline in revenue YoY for Wipro's Q4FY24 earnings due to a challenging demand environment, top leadership churn, dwindling market share, and organisational reshuffle. Additionally, shares of Indian IT companies slumped ahead of Infosys' Q4 results, dragging benchmark indices lower.

Wipro Faces Challenges Ahead of Q4 Results - 16 Apr, 2024

Wipro is set to release its Q4 FY24 financial results amid concerns about the company's performance under former CEO Thierry Delaporte. CLSA has given a Sell rating on Wipro with a target price of Rs 445, citing consistent underperformance compared to peers. New CEO Srinivas Pallia sold shares worth over Rs 5 crore prior to his appointment. The Q4 earnings are estimated to show subdued growth due to pressure on discretionary client spends.

Wipro Faces Executive Resignation & Share Dilution - 15 Apr, 2024

Wipro faces a series of challenges including Thierry Delaporte's resignation as CEO, share dilution in FPEL Ujwal, and dip in stock prices due to geopolitical tensions and high US inflation. However, CFO Aparna Iyer highlights the importance of retaining women employees.

Wipro Set to Announce Q4FY24 Results Next Week - 14 Apr, 2024

Wipro is set to release its Q4FY24 results next week, with revenue decreasing slightly from the previous quarter. Investors can expect a busy week in the stock market.

Wipro Struggles with Market Position and Financial Performance - 13 Apr, 2024

Wipro Ltd faces challenges in transforming its business model to compete in the global tech markets and increase its focus on value-added services. The resignation of CEO Thierry Delaporte and weak financial performance have led to a sell recommendation amid uncertain macroeconomic conditions.

Wipro Reports Sales Fall, Appoints New CEO, Dilutes Shareholding - 12 Apr, 2024

Wipro reported a decline in sales for Q3FY24, appointed a new CEO for its Americas 1 Strategic Market Unit, and saw its shareholding in FPEL Ujwal Private Ltd diluted. Additionally, Thierry Delaporte departed and was replaced by Srinivas Pallia.