The stock of one of India’s leading IT company is in focus after it announced they have received an order from a Middle Eastern airline, for migration of legacy systems and operational efficiency.
Share Price Movement
With a market capitalization of ₹ 3,26,823 Cr, the share of Wipro opened at ₹ 311, and after opening it made an intraday high of ₹ 315 up 2 % from yesterday’s closing price. The past month’s return for the stock is 3 % and the 1-year return stands at 30 %.
Details about the order
The 5-year multi-million dollar order has been placed by Etihad Airways the national airline of the United Arab Emirates, the airline wants a seamless migration of legacy systems and improved operational efficiency across key areas, including workplace, network, infrastructure, and service management.
Wipro FullStride Cloud will deliver a customized cloud-based solution that will provide Etihad Airways with real-time insights into their resource utilization and improve operational agility and scalability for their global operations.
Wipro will also integrate Generative Artificial Intelligence (GenAI) modules across the IT framework – from automation of data centers to conversational support to end-users. GenAI will also provide intelligent device management and insights to optimize performance and proactively resolve potential disruptions.
Q3FY25 Results
The company reported a marginal increase of 0.5 % YoY increase in revenue from ₹22,205 Cr in Q2FY24 to ₹22,318 Cr in Q3FY25. Their Net profit too saw a significant upside with a 24.66 % YoY increase from ₹ 2,700 Cr to ₹3,366 Cr for the same period.
On a QoQ basis, the company reported an increase of only 0.07 % in revenue from ₹22,301 Cr in the previous quarter, and their net profits saw an increase of 3.09 % from ₹3,226 Cr for the same period.
About the Company
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging their holistic portfolio of capabilities in consulting, design, engineering, and operations, they help clients realize their boldest ambitions and build future-ready, sustainable businesses.
Written By Abhishek Das
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