Wipro confirms IT systems hack ahead of Q4 results; key things to know

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Updated: April 16, 2019 1:18:51 PM

IT mjaor Wipro on Tuesday confirmed that it noticed ‘abnormal’ activity in few of its employees accounts, due to an advanced phishing campaign.

Earlier, cyber security blog KrebsOnSecurity said that Wipro’s systems had been breached and were being used to launch attacks against some of its clients.

IT mjaor Wipro on Tuesday confirmed that it noticed ‘abnormal’ activity in few of its employees accounts, due to an advanced phishing campaign. “We detected a potentially abnormal activity in employee accounts, on our networks due to an advanced phishing campaign. Upon learning the incident, we promptly launched an investigation, identified the affected users and took remedial steps to contain the potential impact,” Wipro said in a statement.

Earlier, cyber security blog KrebsOnSecurity said that Wipro’s systems had been breached and were being used to launch attacks against some of its clients. Wipro added that an independent forensic firm is assisting them in the investigation.  The development comes even as the IT giant is set to report Q4 results for the January to March-18 period late in the day.

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After a healthy set of numbers by rivals TCS and Infosys, the investors will keenly look forward to Wipro’s Q4 results. Kotak Institutional Equities sees the constant currency revenue growth rate of 1.5%. “The adjusted Ebitda margin is expected to inch 10 bps lower owing to rupee appreciation. Growth rates in energy and utilities, acceleration in BFSI, participation in large deals and digital growth rates are the key variables,” Edelweiss said in a report.

Earlier, Wipro has said that it will consider a proposal for equity buyback in its meeting to be held next week. It will be third buyback after Rs 2,500 crore worth of shares in 2016 and Rs 11,000 crore worth of shares in 2017. “Board will consider a proposal for buyback of equity shares of the Company at its meeting scheduled to be held on April 16, 2019”, Azim premji-led Wipro said in a regulatory filing.

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