New Delhi: Wipro Ltd has appointed former International Business Machines Corp. (IBM) executive Bill Stith to revive the fortunes of the Bengaluru-based company’s healthcare and life sciences division. Stith, who headed IBM’s healthcare and life sciences business in the US, is the third top external hire by chief executive officer Abidali Neemuchwala. His hiring is also Wipro’s third top-level management change in 2018.

With digital services emerging as the next growth driver for information technology (IT) services firms, quality of revenue is taking precedence over quantity, leading to a fair amount of rationalisation of customers.

This trend is reflected in the active customer base of Indian IT services firms, which grew at a tepid pace for the last three years despite healthy additions of clients every quarter.

Unfazed by double-digit decline in annual and quarterly net profit and posting lower growth than rival HCL Technologies in revenue, software major Wipro on Wednesday sounded upbeat on demand environment being strong in global markets for its IT services.

“Demand environment and traction in global markets continues to be strong, especially for digital transformation and enterprise scale modernisation services,” Wipro Chief Executive Abidali Neemuchwala told reporters here.

Bengaluru: Indian software services exporter Wipro Ltd on Wednesday reported a 13.8% fall in second-quarter net profit, dented by higher expenses.

The Bengaluru-based company posted a net profit of 1,889 crore ($258.09 million) in the quarter ended 30 September, compared with 2,192 crore a year earlier, the company said on Wednesday.

After acquiring Wipro’s Hosted Data Centre Services business in US, Europe and Singapore, US-based Ensono has now completed its acquisition of the company’s Indian assets. It has also moved into its own facility with its headquarters in Pune.

“Enson acquired Wipro’s business from for $405 million. Post this acquisition, the company has invested millions of dollars more on the new facility and will continue to invest on resources over the next two to three yeas,” Jeff VonDeylen, CEO of Ensono said.

After several quarters of slow growth, IT major Wipro is seen to have regained the momentum with the clinching of the $1.6-billion Alight deal earlier this month.

The contract has not only cemented the position of its chief executive officer (CEO) Abidali Neemuchwala, it has also proven the ability of the current management to successfully chase and close larger deals that are becoming scarcer in the market.

New Delhi: The top five software services providers operating in India added 24,047 people in the first quarter of this fiscal, compared with the 13,772 net additions in the previous fiscal, leading many experts to believe that the industry is set to record the fastest growth in three years. The turnaround in the pace of hiring at Tata Consultancy Services Ltd (TCS), Cognizant Technology Solutions Corp.,

Shares of Wipro were up for the seventh straight day, rising to Rs 322, up 1% on the BSE.

In past three trading days, the stock has risen 4% after the information technology (IT) services firm on Sunday announced that it has won its largest contract to date from US-based human resources (HR) and financial solutions company Alight Solutions LLC. The stock hit a high of Rs 328 during intra-day trade on Monday, September 3, 2018.

The Wipro stock gained as much as 8.5 per cent intra-day on Monday, its highest such gain in five years. This was after the company announced on Sunday that it had bagged its largest order, worth $1.5 billion (Rs 106 billion) from US-based Alight Solutions. The 10-year order would translate to an incremental $150 million (Rs 10.6 billion) annually over the contract period. This is two per cent of the current revenue.

BENGALURU: Wipro has bagged a multi-year business process services and finance transformation contract from Denmark-based Falck.

The Bengaluru-headquartered software services exporter said it would help Falck, international supplier of ambulance services, employee health care and roadside assistance, in their transformation journey to establish a scalable and efficient finance operating model.

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