BENGALURU: Appirio India Cloud Solutions is the only company that has reported growth in business among four of Wipro’s subsidiaries, which are slated to be merged into its parent.

Appirio India, which specialises on cloud computing based services, reported Rs 11.12 crore profit on revenues of Rs 76.17 crore in FY18. Last financial year, Appirio reported Rs 10.78 crore profit on revenues of Rs 69.74 crore.

Mumbai: ITC Ltd, Wipro Consumer Care & Lighting Ltd and Cadila Healthcare Ltd are readying to submit binding offers to buy Kraft Heinz India’s popular nutritional drink brand, Complan, two people directly aware of the development said. All three bidders are expected to submit binding bids by 15 September, the deadline set by the investment bankers—JP Morgan and Lazard—managing the transaction, the people cited above said, requesting anonymity as the discussions are private.

BENGALURU: Wipro has effected a $75-million settlement with its decade-old customer National Grid for release of all claims under a lawsuit the latter filed in a New York district court against the firm in 2017.

National Grid is an electricity, natural gas, and clean energy delivery company that supplies energy for more than 20 million people through its networks in New York, Massachusetts, and Rhode Island.

Wipro said it has effected a settlement of the lawsuit filed by National Grid US for $75 million (Rs. 499 crore), which would impact its July-September results.

The company, India's third largest software services exporter, said this settlement is for the release of all claims under the lawsuit with National Grid US.

Wipro, the country’s third-largest IT services company, is planning to hire more number of freshers from campuses this fiscal year as compared to that of previous fiscal year as the firm sees an uptick in demand in key markets and verticals.

With employee utilisation levels touching a high of 85.2 per cent at the end of June quarter, the company also needs a bench of reserved employees to deploy in newer projects

Wipro, India’s third-largest IT services company, on Friday announced better-than-expected financial numbers for the first quarter ended June 2018. This was backed by a revival in the key BFSI (banking, financial services, and insurance) vertical, apart from strong growth in North America, which accounts for 55 per cent of the company’s revenues.

While Tech Mahindra Chief Executive Officer CP Gurnani continues to earn the highest remuneration among IT giants, in gross salary terms most CEOs took home a modest package led by Wipro's Abidali Neemuchwala.

Gurnani earned Rs 1.46 billion in 2017-18, which is 3,150 times the median employee remuneration (MRE) at the company. However, Gurnani's remuneration consisted of Rs 1.42 billion in stock options granted to him in 2013 and exercised during the current financial year.

Wipro chief executive Abidali Z Neemuchwala saw his pay package growing over 34 per cent to Rs 182.3 million during FY2017-18 compared to the previous fiscal, as per the company's annual report.

Chief Strategy Officer Rishad A Premji’s compensation also grew by more than 250 per cent to Rs 58 million in the said fiscal.

Anil Chanana let the cat out of the bag at an analyst call earlier this year. The chief financial officer of HCL Technologies said he expects half the growth for the current fiscal to come organically. “If I take 10.5% as being the middle of the range, I am cutting it exactly in half — 5.25% is organic and 5.25% is inorganic.”

BENGALURU: Tariq Premji, the younger son of Wipro chairman Azim Premji, has been appointed to the board of Wipro Enterprises, the $1.23 billion privately held non-IT business that makes soaps such as Santoor and builds aerospace sub-systems for plane makers like Airbus and Boeing.

The 30-year-old, who started off working in the family investment arm Premji Invest and also spent considerable time in the philanthropy initiatives of Premji, joined the Wipro Enterprises board effective June 1, according to regulatory disclosures.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.