Wipro To Stay ‘Very Focused’ On Growth Despite Pricing Pressures
“We will make the right investments in the market, in the solutions to make sure we capture the growth,” Wipro COO says.
Wipro Ltd. will remain “very focused” on increasing growth and market share as demand bounces back to near pre-pandemic levels, according to Chief Operating Officer Bhanumurthy BM.
The nation’s fourth-largest information technology company by market capitalisation has a decent pipeline of large- and medium-sized deals from across geographies and verticals, Bhanumurthy told BloombergQuint’s Sajeet Manghat in an interview. Both sales intensity and conversations with customers have increased as they want to ensure digitalisation of their organisations, he said.
This comes a day after Wipro reported a 1.17% sequential increase in revenue for the quarter ended September. Its profit rose 3.15%, while margin expanded 20 basis points to 19.2%. The company also announced a Rs 9,500-crore share buyback to reward shareholders.
While Wipro is witnessing a rebound in demand, it remains cautious on pricing as clients scrape funds for investments into technology. “We are doing to ensure we offer value to our customers,” Bhanumurthy said, including cutting costs and introducing automation and cognition in every step possible. “All these things will ensure that operating costs are taken care of well.”
As for specialised solutions, Wipro finds itself in a better position to command a price, he said. “We will make the right investments in the market, in the solutions to make sure we capture the growth, and at the same time we will do every we can to make sure margin in a narrow band.”
Watch the full conversation here: