Wipro Work in progress?
waters. This has become a replay of sorts. Wipro’s peers have all received kudos during the October-December quarter and Premji has admitted that he was a tad disappointed with Wipro’s not-so-great numbers during the period.
Laggard is not a term Premji particularly likes, but that’s exactly the description that analysts have been using to put Wipro’s performance into context. To be fair, Wipro’s results have met estimates but the tepid guidance for the March quarter and declining volumes in Q3 showed the firm in bad light. For some time now, the company has been talking about specific strategies to improve its fortunes and bettering efficiency of its operations. It’s been a long wait now, by impatient corporate standards.
The issue with Wipro is that not all the verticals seem to be pulling ahead. Its healthcare vertical is a big plus for the company, growing by 7% sequentially. The same cannot be said about many of the other verticals. Getting to roll all the verticals up north has been a challenge for the firm. This is not say that all other IT firms have been able to do this, but Wipro needs to definitely find more verticals to do
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