Latest news with #WiproLtd
Mint
5 days ago
- Business
- Mint
C Vijayakumar, one of Indian IT's longest-serving CEOs, gets a third term at HCLTech
C Vijayakumar, already one of Indian IT's longest-serving CEOs, is set for a third stint as chief executive of HCL Technologies. Late on Thursday the board of the Noida-based company granted him a five-year extension. In a stock exchange filing, HCLTech said it approved Vijayakumar's reappointment from 1 September 2025 to 31 March 2030, subject to the approval of shareholders. Vijayakumar, 57, is a HCLTech veteran who has spent around three decades at the company. He first occupied its corner office in October 2016. He was given a second term on 20 July 2021 and handed the additional responsibility as managing director when then chief strategy officer Shiv Nadar stepped down. Srikrishna Ramakarthikeyan of Hexaware Technologies is Indian IT's longest-serving CEO, having taken over in August 2014. Vijayakumar is the longest-serving CEO among the top five IT firms, followed by Salil Parekh, 60, who joined Infosys as CEO in January 2018 and remains in the role. Tata Consultancy Services, Wipro Ltd and Tech Mahindra have been a change at the top in the past 30 months. Vijayakumar oversaw HCLTech's toppling of Wipro Ltd as the country's third-largest IT outsourcer in July 2018. Seven years later, the pecking order at the top remains unchanged. He is also the highest-earning chief executive of an Indian IT firm, having bagged ₹ 84.16 crore in salary as of March 2024. His current salary is unknown as HCLTech is yet to release its annual report for FY25. A major reason for his extension is the company's outperformance in relation to its peers. Between 1 April 2017 and 31 March 2025, HCLTech grew at a compound annual rate of 8.94%, the highest among the top five IT firms. Under CVK, as he is known within the company, HCLTech added $9.3 billion in incremental revenue between 1 October 2016 and 31 June 2025. This is almost the size of Wipro Ltd, India's fourth-largest IT outsourcer. The company also won its largest deal under Vijayakumar in August 2023. HCLTech bagged a six-year contract with US telecom company Verizon Communications that would fetch it $2.1 billion. It has also bet on software products, making it one of the few software outsourcers to purchase and license intellectual property, and build and sell software products to clients. The company's confidence in Vijayakumar also stems from the fact that HCLTech has grown the fastest among the top five for two straight years, at a time when clients have been wary of macroeconomic uncertainties and growth in the $283-billion IT industry has slowed. HCLTech ended the last fiscal year with $13.8 billion of revenue, up 4.3%. Vijayakumar has had his challenges, such as increasing the company's operating margins. Over the past eight years, HCLTech's operating margins tanked 200 basis points to 18.3% in FY25. Still, shareholders haven't lost faith. HCLTech's shares have jumped 87% since Vijayakumar took over as CEO, and closed at ₹ 1,506.95 on Thursday.
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Business Standard
18-07-2025
- Business
- Business Standard
Wipro shares see best day in over 2 months post Q1 results; time to buy?
Shares of Wipro Ltd. rose over 4 per cent on Friday after the technology major's first-quarter earnings met the street expectations. However, analysts remained mixed on the margin outlook while growth visibility is seen improving. The technology bellwether's stock rose as much as 4.34 per cent during the day to ₹271.9 per share, the biggest intraday gain since May 12 this year. The stock pared gains to trade 2.6 per cent higher at ₹267.5 apiece, compared to a 0.25 per cent decline in Nifty 50 as of 9:53 AM. Wipro Q1 results The fourth-largest tech services firm reported a 6.7 per cent sequential decline in its net profit to ₹3,330 crore for the first quarter of the current financial year (Q1FY26). Year-on-year (Y-o-Y), profit was up 10.9 per cent. Revenue for Q1 stood at ₹22,134.6 crore, down 1.6 per cent on a quarter-on-quarter (Q-o-Q) basis. The top line was marginally up by 0.77 per cent Y-o-Y. The company's Q1 performance marginally beat Bloomberg estimates. Revenue was expected at ₹22,078.3 crore and net profit at ₹3,249.4 crore. The company had healthy deal bookings, which stood at about $5 billion for the quarter ended June 30. Large deal bookings were up 131 per cent to $2.66 billion. That led the IT services player to improve its guidance for the second quarter (July-September). Wipro now expects to degrow by 1 per cent at worst, or grow by 1 per cent at best, in constant currency terms. Wipro Management commentary The drop in revenue to a muted quarter was attributed to continuing macroeconomic uncertainty. 'We remain cautious in this environment, and the uncertainty continues,' Wipro Chief Executive Officer Srini Pallia said on Thursday. 'While discretionary budgets are tight, we see strong deal momentum in America, especially in banking, financial services and insurance (BFSI), where demand is strong and steady. Healthcare is also doing well,' he added. Analysts on Wipro Q1 results Nomura said that Wipro delivered a strong performance in the first quarter of FY26, surpassing expectations across most key metrics. A sharp pickup in deal wins was a notable highlight. However, Nomura cautions that the near-term outlook could face margin headwinds. Wipro's management acknowledged that recent deal wins would require upfront investments, which may temporarily weigh on profitability. Given the expected impact from the recent projects, Nomura has revised its FY26 Ebit margin forecast downward by 80 basis points to 16.2 per cent. Motilal Oswal expects Wipro's FY26 constant currency (CC) revenue to decline by 1.3 per cent Y-o-Y, citing a weak start to the year. The company's IT services Q2 revenue guidance remains muted, it noted. A gradual recovery is anticipated in the second half, as large deal ramp-ups begin to reflect in revenue. The brokerage believes there is limited scope for margin expansion from current levels. The firm maintained its 'Sell' rating, with a target price of ₹230. Nuvama Institutional Equities noted that Wipro delivered a better-than-expected Q1 performance, though it noted that expectations were already muted. The brokerage sees strong deal wins as a positive signal that could drive growth in the upcoming quarters. However, it remains cautious, awaiting clearer signs of macroeconomic improvement and consistency in execution before turning bullish. Margins are expected to remain under pressure, Nuvama said. The firm maintains a 'Hold' rating on the stock, with a revised target price of ₹270 (up from ₹260). Wipro share price history Shares of the company have recovered by 14 per cent from their April lows and currently trade at 10 times the average 30-day trading volume, according to Bloomberg. The counter has fallen 12 per cent this year, compared to a 5.8 per cent advance in the benchmark Nifty 50. Wipro has a total market capitalisation of ₹2.79 trillion.
Business Standard
18-07-2025
- Business
- Business Standard
InfoBeans Technologies Ltd Spurts 6.5%
InfoBeans Technologies Ltd has added 10.22% over last one month compared to 4.17% fall in BSE Information Technology index and 0.92% rise in the SENSEX InfoBeans Technologies Ltd gained 6.5% today to trade at Rs 420. The BSE Information Technology index is up 0.47% to quote at 36761.67. The index is down 4.17 % over last one month. Among the other constituents of the index, Magellanic Cloud Ltd increased 3.74% and Wipro Ltd added 3.46% on the day. The BSE Information Technology index went down 9.69 % over last one year compared to the 1.05% surge in benchmark SENSEX. InfoBeans Technologies Ltd has added 10.22% over last one month compared to 4.17% fall in BSE Information Technology index and 0.92% rise in the SENSEX. On the BSE, 1 shares were traded in the counter so far compared with average daily volumes of 1584 shares in the past one month. The stock hit a record high of Rs 500.45 on 29 Aug 2024. The stock hit a 52-week low of Rs 269.95 on 07 Apr 2025.
News18
17-07-2025
- Business
- News18
Wipro Announces Interim Dividend Of Rs 5 Per Equity Share; Check Record Date
Wipro Dividend 2025 Record Date: Wipro Ltd announced an interim dividend for its shareholders alongside its Q1 FY26 results Wipro Dividend 2025 Record Date: Wipro Ltd announced an interim dividend for its shareholders alongside its Q1 FY26 results on July 17, 2025. The company's board has declared an interim dividend of Rs 6 per share, with July 28, 2025, set as the record date for determining the eligible shareholders. The dividend will be paid on or before August 15, 2025, as stated in the company's exchange filing. 'Payment of interim dividend of ~ 5 per equity share of par value ~ 2 each to the Members of the Company as on July 28, 2025, being the Record Date. The payment of Interim Dividend will be made on or before August 15, 2025," the company said. Wipro Q1FY26 Results IT services major reported a 9.87% year-on-year (YoY) increase in consolidated net profit at Rs 3,336.5 crore for the quarter ended June 30, 2025. This compares to a profit of Rs 3,036.6 crore in the same quarter last year, as per the company's regulatory filing. Revenue from operations during the April–June 2025 period stood at Rs 22,134.6 crore, marking a modest growth of 0.78% from Rs 21,963.8 crore reported in Q1FY25. Aparna Iyer, Chief Financial Officer, said: 'We expanded our operating margins by 80 basis points on YoY basis. Our cash flow conversion remained strong with operating cash flows being at 123% of our net income. The board also declared an interim dividend of Rs 5 per share. With this, the total cash returned to shareholders over the last 6 months is more than $1.3 billion." On July 17, Wipro Ltd shares on NSE closed 1.5% lower at Rs 258.75 apiece. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
17-07-2025
- Business
- Mint
Wipro starts the year slow but pins hopes on large deals
Wipro Ltd has started the fiscal year on a gloomy note with a third consecutive revenue decline, but is pinning its hopes for a better second half on its large deals despite macroeconomic uncertainties. On Thursday, the Bengaluru-based information technology (IT) outsourcer reported $2.59 billion in revenue for the April-June first quarter, down 0.35% from the preceding three months and 1.47% lower from the corresponding year-ago period. Much of the company's revenue was dragged by banks and financial institutions, which are its biggest earners. Wipro's first-quarter revenue, however, was a tad higher than the average of $2.58 billion that 35 analysts polled by Bloomberg had expected. India's fourth-largest IT outsourcer also exceeded its April projection of between $2,505 million and $2,557 million in revenue for the June quarter. Wipro's Q1 performance was also in line with India's top five IT outsourcers. Tata Consultancy Services Ltd, the largest, ended the first quarter with $7.42 billion in revenue, down 0.59% sequentially, while HCL Technologies Ltd, the third-largest, reported $3.55 billion, up 1.34% from the January-March quarter. Tech Mahindra Ltd, India's fifth-largest IT services provider, reported Q1 revenue of $1.56 billion, up 0.97% on a quarterly basis. Infosys Ltd, India's second-largest IT outsourcer, will report its June-quarter results on 23 July. 'We started the quarter facing significant macro uncertainty, which kept overall demand muted," said Srinivas Pallia, chief executive of Wipro, during the company's post-earnings press briefing on Thursday. TCS and Tech Mahindra have also pointed to uncertainty in the macro environment resulting in decision-making and project implementation delays by customers, although HCLTech's management has said the macroeconomic environment is stable. 'I would certainly say that there is uncertainty. So the whole aspect of geopolitics continues, the aspect of tariff continues, and each of the industries and each of the countries have a different situation," said Pallia. A healthy deal pipeline, but… Wipro is confident of a turnaround because of a healthydeal pipeline. 'The large deals we closed this quarter, and, of course, the last quarter, along with a strong pipeline, put us in a good position for the second half of the year," said Pallia. The IT services company's large deal wins in the first quarter jumped 51% to $2.67 billion. Much of this increase was because of two 'mega deals" that the company won in the banking, financial services, and insurance (BFSI) sector in the first quarter, and a third large deal that could become a mega deal later. Wipro considers deals with contract value of $30 million and above as large deals. At least one analyst gave Wipro's latest quarterly performance a thumbs-up. 'Strong large deal wins coupled with an inline guidance for the September quarter (-1% to 1% quarter-on-quarter in constant currency terms) are encouraging even as the company announced an interim dividend of ₹5," said Manik Taneja, executive director of IT services for Axis Capital. 'Wipro remains the cheapest tier 1 IT services stock and these results only lend confidence that Wipro is certainly steading well under the current CEO," Taneja added. Wipro ended Thursday's trading on NSE down 1.54% at ₹258.75 per share, before the quarterly earnings results were announced. The Nifty IT index fell 1.39%. Wipro expects a better second half (October 2025 to March 2026), but does not see its big-ticket deals filling the company's revenue coffers immediately. 'In terms of deal wins and conversions, some of the deals that we won have a good balance of both extending the work that we do, and there is an element of expansion," Wipro's chief financial officer Aparna Iyer said during the press briefing. '(But) given the nature of these deals, they will take about six to eight quarters for them to just fully ramp up." A steep climb for Pallia Even as Wipro's large order book and pipeline might show positive signs for Pallia, who completed a year as the company's CEO in May, he faces the challenge of steering it to growth after two years of full-year revenue decline. The IT services company has projected revenue of $2.56 billion to $2.61 billion for the July-September second quarter. According to Wipro's management, its cautious guidance factors in near-term demand challenges and client visibility. Even if Wipro reports at the upper end of its revenue guidance for the second quarter, it will still face a herculean task in the second half of the fiscal year. The company will have to report revenue of at least $2.66 billion in the third and fourth quarters each if it has to match its 2024-25 revenue of $10.51 billion in 2025-26. HCLTech has projected revenue growth of 3-5% in constant currency terms. TCS and Tech Mahindra do not provide yearly or quarterly revenue outlook. Much of Wipro's revenue decline in the first quarter came from Europe, which makes up a little more than a fourth of the company's revenue. The company earned $665 million from clients based in Europe, down 1.7% sequentially. Net profit in the first quarter declined 7.38% sequentially to $389 million. Wipro also reported 17.3% in operating margin for the quarter, down 20 basis points sequentially. One basis point is a hundredth of a percentage point. TCS and Tech Mahindra reported a jump in profitability to 24.5% and 11.1%, respectively, whereas HCLTech reported a 160 basis points decline in margins to 16.3%. Lower headcount and murkier waters Wipro became India's third large IT outsourcer to cut headcount in the first three months of this financial year. The tech outsourcer ended the first quarter with 233,232 employees, 114 fewer from the preceding three months, even as it focuses on specialised hiring. HCLTech cut headcount by 269 people to end the first quarter with 223,151 employees, while Tech Mahindra's headcount fell by 214 to 148,517 employees. As of now, TCS is the only top IT outsourcer in the country to have added headcount during the June quarter—up by 5,090 people to end the period with 613,069 employees. Three of the country's five largest IT outsourcers cutting headcount signals to murkier waters ahead. More headcount in an IT services company means more demand for their IT services. The decrease in headcount comes in the backdrop of a tariff war started by US President Donald Trump coupled with geopolitical uncertainties. These can put IT spending by large companies, many of which count Wipro as their IT vendor, in limbo.
