IT services provider Wipro said it expects its revenue from IT Services business will be in the range of USD 2,022-2,062 million for the December quarter of 2020, reflecting growth of 1.5-3.5 percent quarter-on-quarter.
Its IT services segment revenue in the September quarter was at USD1,992.4 million – an increase of 3.7 per cent quarter-on-quarter.
Wipro has posted 3.4 percent decline in consolidated net profit to Rs 2,465.7 crore for the quarter ended September 30.
Wipro’s revenue for the September quarter was nearly flat at Rs 15,114.5 crore.
“We had an excellent quarter with growth in revenues, expansion of margins and robust cash generation,” Wipro CEO Thierry Delaporte said.
He added that the company’s strategy is to focus on growth in prioritised sectors and markets led by vertical solution offerings.
Wipro to buy Eximius Design
Wipro has agreed to acquire Eximius Design, an engineering services company with expertise in semiconductor, software and systems design.
San Jose, California, USA-based Eximius provides solutions and services for building smarter, smaller and faster connected products for various use cases of IoT, Industry 4.0, Edge Computing, Cloud, 5G and Artificial Intelligence.
Eximius has design centers in the US, India and Malaysia. Their clientele includes some of the Fortune 100 corporations and new age companies across semiconductors, cloud and hyperscale infrastructure, consumer electronics and automotive segments.