NEW DELHI: Information technology firm Wipro has identified five strategic areas to ‘revitalise the company, the newly appointed CEO and MD Srinivas Pallia said in his letter to stakeholders in the annual report of the company.
These areas include accelerating large deal momentum by working closely with clients and partners, focusing on AI-powered industry specific offerings and consultation-led business solutions as well as building talent at scale around industry solutions with an AI-first approach.
The MD and CEO also said the company will also be strengthening relationships with large clients and partners, and invest early on the next set of accounts that have the potential to grow into large accounts. The last focus area for the company would be to drive client centricity and delivery excellence with execution rigor and speed.
The IT giant Wipro has been going through a rough patch with its net profit continuously falling since FY22. The company posted Rs 11,135.40 crore in FY24 compared to Rs 11,372 crore in the previous year.
In FY22, the company had posted a net profit of Rs 12,238 crore. The Bengaluru-based company saw its FY24 fourth quarter profit falling by 7.8% to Rs 2,834.6 crore. Revenue in the quarter fell 4.2% to Rs 22,208 crore.
Pallia further said that the company is at the threshold of a significant technological transformation, with clients across industries eager to harness the power of AI to reshape their businesses.
He said that Wipro’s AI strategy is unlocking significant business value for its clients and for the company.