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Wipro to invest $1 bln to expand cloud transformation capability
(10:09, 22 Jul 2021)

Wipro FullStride Cloud Services will bring the full portfolio of its cloud-related capabilities, offerings and talent to better orchestrate the cloud journey for clients. Wipro FullStride Cloud Services will build on Wipro's existing and extensive cloud business with clients and significantly expands the investment with its partners and hyperscalers, creating industry solutions that accelerate results for mutual clients.

Wipro FullStride Cloud Services will work with clients to better align business and IT with the cloud imperative, create significant business value and increase competitive differentiation. It will also improve their business agility, embed resilience and significantly optimize their technology investments in favor of change and innovation. Wipro FullStride Cloud Services puts client and business needs first while orchestrating simplicity in an otherwise complex ecosystem.

The announcement was made after market hours on Tuesday, 20 July 2021. The markets were closed on Wednesday, 21 July 2021 on account of Eid al-Adha.

Thierry Delaporte, the chief executive officer (CEO) and managing director (MD) of Wipro, has said that: Today, cloud adoption is at the core of any IT transformation initiative, and our clients have been turning to Wipro for help with this. With our $1 billion investment in cloud capabilities, and the launch of Wipro FullStride Cloud Services, we are in a far stronger position to simplify, orchestrate and accelerate the cloud journey for our clients.

Separately, Wipro and Celonis, the leader in execution management, on Wednesday announced a partnership. As a part of the collaboration, Wipro will launch the Global Celonis Center to drive operations transformation for clients. This partnership will leverage the Celonis Execution Management System and Wipro's expertise to streamline operations for clients across a range of areas, including finance, human resources, and supply chain management.

Through the Global Celonis Center, customers will be able to work with digital twins of business processes to monitor, standardize and control them. Additionally, they can identify and remove efficiency, effectiveness and experience barriers and reap the benefits of intelligent, data-driven execution. This will lead to superior customer experience, delivering enhanced business value and operational cost reduction.

The IT major reported a 9.20% rise in consolidated net profit to Rs 3,248 crore in Q1 June 2021 (Q1 FY22) as against Rs 2,974.30 crore in Q4 March 2021 (Q4 FY21). Consolidated revenues grew 12.35% to Rs 18,252.40 crore in Q1 June 2021 compared with Rs 16,245.40 crore in Q4 March 2021.

Wipro is a global information technology, consulting and business process services company.

Shares of Wipro rose 0.91% to Rs 573.75 on BSE. The stock hovered in the range of Rs 571.05 to Rs 584.95 so far.

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