WIPRO today announced financial results under International Financial Reporting Standards (IFRS) for the Quarter ended June 30, 2021.
Highlights of the Results
Results for the Quarter ended June 30, 2021:
Gross Revenue was ₹182.5 billion ($2.5 billion1), an increase of 12.4% QoQ and 22.4% YoY
IT Services Segment Revenue was at $2,414.5 million, an increase of 12.2% QoQ and 25.7% YoY
Non-GAAP2 constant currency IT Services Segment Revenue increased by 12.0% QoQ and 21.3% YoY
IT Services Operating Margin3 for the quarter was at 18.8%, a decrease of 29 bps YoY
Net Income for the quarter was ₹32.3 billion ($434.8 million1), an increase of 35.2% YoY
Earnings Per Share for the quarter was at ₹5.92 ($0.081), an increase of 41.0% YoY
Operating Cash Flow was at ₹33.5 billion ($451.1 million1), which is 103.7% of Net Income
Our IT Services workforce crossed the milestone of 200K, closing headcount at 209,890
In June 2021, we issued our first ever dollar denominated bond offering of $750 millionwith a 5-year tenor
TCS iON Celebrates World Youth Skills Day by Integrating an Ecosystem of Partners to Reimagine Vocational Education
A strategic unit of Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has brought together an ecosystem of academia, corporates, publishers, and original equipment manufacturers as part of its innovative phygital model for vocational education, on the occasion of World Youth Skills Day. This ecosystem will drive enhanced learning content, experiences and outcomes for learners looking to enhance their skills.
TCS iON has developed a large ecosystem of players with deep expertise in vocational education including Tata STRIVE, Nettur Technical Training Foundation (NTTF), and Apollo Med Skills. It also includes the Automotive Skill Development Council (ASDC), which recently expanded its engagement with TCS iON to develop programs for the automotive sector.
TCS iON’s model for vocational education is aligned with the National Education Policy 2020 and provides learning programs from 3-hours certifications to 3-year credit-based industry degrees. The TCS iON learning construct comprises ten innovative pedagogical elements with multimodal digital learning resources, live online lectures, gamified learning, and simulation-based training. Physical Learning and Practice centers across the country will help participants gain hands-on project work and prepare them effectively for the industry. A key digital platform driving this model is the TCS iON Digital Learning Platform that is used by more than 12.7 million learners – children, youth and working professionals.
In addition to learning programs, the model includes assessment products, assessment services and platform solutions for skill providers such as ITIs, polytechnics, and skill development institutes as well as for ecosystem enablers and nodal institutions promoting skill development in India for both the government and private sector.
“We aim to help the Indian youth to continuously enhance their skills and become job-ready. Towards this, we leverage our deep domain knowledge and technology expertise, along with our network of partners to reimagine learning and make it more accessible,” said Venguswamy Ramaswamy, Global Head, TCS iON. “We look forward to working with our new partners, driving collaboration in new areas as well as delivering industry-aligned experiences to learners beyond the campus in every district of India.”
Sudhanshu Vats to join Pidilite as Deputy Managing Director
Pidilite Industries Limited today announced that Sudhanshu Vats will join the Company as Deputy Managing Director, effective September 1, 2021.
Sudhanshu Vats, an alumnus of IIM-Ahmedabad and NIT Kurukshetra, has a rich career of 30 years spanning diverse organizations like Unilever, Castrol, Viacom18 and more recently, EPL (formerly known as Essel Propack). Sudhanshu is Member CII National Manufacturing Council. He was the Chairman - National Media and Entertainment Committee of CII from April 2014 to March 2020 and Director & Vice President of Indian Broadcasting Foundation from September 2012 to April 2020.
Commenting on the announcement Shri. M.B. Parekh, Executive Chairman of Pidilite said “Sudhanshu is a welcome addition to Pidilite’s leadership team. His talent and experience will be of great value to Pidilite”.
Mr. Bharat Puri, Managing Director of Pidilite said “I am delighted to welcome Sudhanshu to Pidilite. His varied experience and passion and energy for building a sustainable growth business will be an important asset in building the Pidilite of the future”.
Sudhanshu Vats added "I am deeply honoured to partner Mr. Madhukar Parekh and Bharat in the next phase of Pidilite’s journey. I would like to thank the Board for giving me this opportunity. Pidilite is an outstanding organization and an exemplary corporate citizen helping people from all walks of life add magic to their world with its iconic brands and pioneering technology. I am excited about working closely with the talented Pidilite team to create sustainable long-term value for all our stakeholders."
Mindtree Achieves Data Analytics Partner Specialization in Google Cloud Partner Advantage Program
- Mindtree, a leading digital transformation and technology services company, today announced that it has achieved the Data Analytics Services Partner Specialization in the Google Cloud Partner Specialization Program. This specialization highlights Mindtree’s expertise and success in leveraging analytics for business insights using Google Cloud Platform technology.
Specializations in the Google Cloud Partner Specialization Program are designed to provide Google Cloud customers with qualified partners that have demonstrated technical proficiency and proven success in specialized solution and service areas. This recognition highlights Mindtree’s ability to drive the data analytics process from ingestion to preparation, storage, and analysis, which has become increasingly important as companies look to analytics for data-backed business insights. Additionally, Mindtree recently achieved the Application Development Partner Specialization and is a Google Cloud Partner, offering clients a complete spectrum of cloud services, including big data services, migration and transformation, implementing SAP, data science, and artificial intelligence and machine learning services.
“Companies rely on analytics platforms to help them interpret and leverage the massive amounts of data they are collecting,” said Dayapatra Nevatia, Executive Director and Chief Operating Officer, Mindtree. “However, as more organizations adopt a cloud-centric approach, it enables businesses to access relevant data that helps drive additional insights and value. Mindtree is committed to helping enterprises navigate through the cloud landscape and accelerate their digital transformation journey. This recognition validates our proven success in helping Google Cloud customers take full advantage of data analytics capabilities.”
As a Google Cloud Partner, Mindtree has helped clients adopt native Google Cloud services to enable near real-time data publishing for insight-driven decision-making. The company has also designed, built and automated data-trained algorithms to enable various initiatives for its clients.