HCL Technologies Ltd., Wipro Ltd. and Tech Mahindra Ltd. are set to report earnings as their investor base increasingly questions the value of traditional IT services in the age of artificial intelligence.
Wipro Ltd. plans to buy as much as 150 billion rupees ($1.6 billion) of its shares, seeking to return funds to investors and take advantage of a decline in its stock price.
Exterior of Wipro headquarters in Bengaluru, India, on Friday, Jan. 13, 2023. Wipro announced its third-quarter financial results on Jan. 13. Photographer: Aparna Jayakumar/Bloomberg
Wipro’s third-quarter earnings fell short of expectations with a 7% drop in net profit, weighed down by restructuring costs and labor law charges. CFO Aparna Iyer explains why Q4 guidance remains muted at zero to 2% growth, even as operating margins hit a seven-year high of 17.6%. She joins Paul Allen exclusively on Insight with Haslinda Amin. (Source: Bloomberg)
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