INSUBCONTINENT EXCLUSIVE:
ET Intelligence Group: IT services major Wipro reported improved profitability and higher share of digital revenue in the fiscal ended March
It also exhibited efficient cash flow management and declared a share buyback worth up to Rs 10,500 crore in a bid to increase payback to
exporter closed what may go down as its worst year in terms of the topline growth since the days of financial crisis in 2008-09.
Its revenue
grew 3.8 per cent to $8,120 million in FY19 compared with 4.3 per cent growth in the prior fiscal after adjusting for the divestment of
hosted data centre services business
The last time it clocked a double-digit growth was in FY12 when revenue grew by 13.4 per cent to $5,921 million.
This is at a time when
peers including Tata Consulting Services (TCS), Infosys, and HCL Technologies have been reporting faster revenue growth
HCL Tech even displaced Wipro from the third spot in the pecking order based on dollardenominated revenue in the June 2018 quarter.
On a
five-year compounded growth basis, TCS and Infosys grew the dollar topline by 9.2 per cent and 7.4 per cent, respectively, while Wipro
lagged at 4.2 per cent growth between FY14 and FY19
grow revenue by at best 1 per cent sequentially for the June 2019 quarter
share may look lucrative for investors who wish to shift to other companies in the sector
