RELATED: Provisions for insolvent clients drag down Wipro Q4FY18 profitĭuring the year gone by, sales to clients in communications (6.4 percent of IT services revenue), healthcare and life sciences (14.1 percent) units fell 11.7 percent and 6.5 percent respectively over the previous year, and orders from clients in the energy, natural resources and utilities sector (12.9 percent) made nary a dent in Wipro’s growth. However, the baggage of its established outsourcing services dragged it down more than anticipated, as its latest results showed.
Wipro’s digital services unit is making rapid gains, and the business - helping clients shift to the cloud, and building rapid solutions on the net for them to grow their own revenue - accounts for over a fourth of Wipro’s business today. Results have been mixed, at best, and Mumbai brokerage Reliance Securities pointed out after the latest results that Wipro will likely post its seventh consecutive year of single digit growth, this current fiscal year that started April 1. Wipro has shed more by way of lost margins (See table) than any of its top peers from India since the fiscal year 2010 as billionaire founder Azim Premji sought to get the company back on track - once seen as home to Indian IT’s finest engineering and R&D services unit.
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