Latest news with #Bengaluru-headquartered


News18
2 days ago
- Business
- News18
Wipro shares climb nearly 3 pc post Q1 numbers
Agency: PTI New Delhi, Jul 18 (PTI) Shares of IT services firm Wipro ended nearly 3 per cent higher on Friday after it posted a 9.8 per cent increase in consolidated net profit during the April-June quarter. Cheering the results, the stock rallied 4.43 per cent to Rs 271.80 in intra-day trade on the BSE. The stock finally ended at Rs 266.90, up 2.56 per cent. At the NSE, shares of the firm ended at Rs 266.35, up 2.20 per cent. Intra-day, it jumped 4.33 per cent to Rs 271.90. The company's market valuation climbed Rs 6,980.42 crore to Rs 2,79,782.74 crore. India's fourth-largest IT services firm Wipro on Thursday posted a 9.8 per cent increase in consolidated net profit to Rs 3,336.5 crore during the April-June period, buoyed by strong deal wins. The Bengaluru-headquartered firm had logged a net profit of Rs 3,036.6 crore in the year-ago period, according to a regulatory filing. Revenue from operations in the first quarter of FY26 was marginally higher at Rs 22,134.6 crore compared to Rs 21,963.8 crore in Q1 FY25. Sequentially, profit and revenue declined 7 per cent and 1.6 per cent, respectively. Total bookings during the quarter under review stood at USD 4,971 million, up 50.7 per cent year-on-year in constant currency. Large deal bookings brought in USD 2,666 million, an increase of 130.8 per cent year-on-year in constant currency. PTI SUM HVA view comments First Published: July 18, 2025, 17:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.


News18
2 days ago
- Business
- News18
Wipro shares jump over 4 pc post Q1 numbers
Agency: PTI New Delhi, Jul 18 (PTI) Shares of IT services firm Wipro climbed over 4 per cent on Friday morning trade after it posted a 9.8 per cent increase in consolidated net profit for the April-June quarter. Cheering the results, the stock rallied 4.43 per cent to Rs 271.80 on the BSE. At the NSE, it jumped 4.33 per cent to Rs 271.90. India's fourth-largest IT services firm Wipro on Thursday posted a 9.8 per cent increase in consolidated net profit to Rs 3,336.5 crore for the April-June period, buoyed by strong deal wins. The Bengaluru-headquartered firm had logged a net profit of Rs 3,036.6 crore in the year-ago period, according to a regulatory filing. Revenue from operations in the first quarter of FY26 was marginally higher at Rs 22,134.6 crore compared to Rs 21,963.8 crore in Q1 FY25. Sequentially, profit and revenue declined 7 per cent and 1.6 per cent, respectively. Total bookings during the quarter under review stood at USD 4,971 million, up 50.7 per cent year-on-year in constant currency. view comments First Published: July 18, 2025, 11:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.


Time of India
5 days ago
- Business
- Time of India
WeWork India gets Sebi's nod for ₹1,000 crore IPO
NEW DELHI: WeWork India , a flexible workspace provider, has received approval from Securities and Exchange Board of India (SEBI) to launch its ₹1,000-crore initial public offering (IPO). Bengaluru-headquartered co-working firm, which operates under the global WeWork brand, is promoted by Enam Securities in India. According to the company's draft red herring prospectus (DRHP), the IPO offer includes a fresh issue worth ₹750 crore and an offer for sale (OFS) component of ₹250 crore by Enam. Post-listing, the company will be traded on both BSE and NSE, with a face value of ₹10 per equity share. Proceeds from the fresh issue will be used for capital expansion, debt reduction, and technology investments, among other corporate purposes. Operational momentum with improved financials The company has been on a recovery path, trimming its net losses and boosting topline revenue over the past year. For FY24, it posted a revenue of ₹1,401 crore, up from ₹1,314 crore in the previous fiscal. Net losses narrowed sharply to ₹146 crore, compared to ₹286 crore in FY23. The company's average occupancy has now crossed 75%, translating into over 75,000 seats across major cities such as Bengaluru, Mumbai, Gurugram, and Pune. Its EBITDA, excluding ESOP costs, has turned positive for the first time, offering a strong case for profitability in the near term. On the balance sheet front, the company has managed to reduce its total borrowings to ₹498 crore by March 2024, from ₹637 crore a year earlier. Strategic vision and use of funds Out of the ₹750 crore expected from the fresh issue, the company plans to allocate ₹350 crore toward setting up new centres and upgrading existing ones. Another ₹200 crore is earmarked for debt repayment and lease liabilities, while ₹150 crore will be deployed to enhance its tech stack and customer interface systems. The company is betting big on AI-driven enterprise solutions, seamless digital bookings, and real-time occupancy analytics to differentiate its offerings. 'With our hybrid model evolving, we're not just offering workspaces; we're building flexible ecosystems for the new-age workforce,' Karan Virwani , CEO of the company said during a recent investor interaction. Portfolio According to DRHP, the company had a total operational portfolio of 8.87 million sq ft of gross area as of March 31, 2024, across 50 centers in nine cities . Out of this, 6.98 million sq. ft. constitutes leased and managed spaces —the core leasable area relevant for business operations. Within this segment: 5.85 million sq ft is leased space. 1.13 million sq ft is under a managed space model (also referred to as revenue-sharing arrangements). The average occupancy rate across all operational centers stood at 72% as of FY24. This marks a recovery from 64% in FY23. Offer for sale As per the DRHP, the offer for sale (OFS) component of WeWork India's IPO will see significant participation from its key promoters and early investors. Embassy Buildcon LLP, a part of the Embassy Group and a promoter entity, is proposing to offload up to 5.41 crore equity shares, marking a strategic partial exit from its investment in the co-working firm. In addition, Ivanhoe Cambridge, the real estate investment arm of Canadian pension fund CDPQ, will offer up to 4.26 crore equity shares through the OFS. The third participant is Bihar Hotels, which plans to sell up to 1.35 crore shares. Collectively, the OFS will amount to a total of 11.03 crore shares, providing a partial exit route for long-standing stakeholders while enhancing the company's public ownership base. Challenges ahead Despite its strong brand recall and improving metrics, WeWork India has flagged several business risks in its DRHP. Among them is its overdependence on leased assets, which account for a significant portion of operational expenses. The company also faces intense competition, not just from other co-working firms, but also from real estate developers increasingly eyeing the flex-space segment. Moreover, a large portion of its revenue is concentrated in metros, making it vulnerable to regional economic shifts. The company also acknowledged operational challenges around regulatory approvals, taxation, and partner ecosystem transparency, which could impact scalability. The IPO is being led by Axis Capital, ICICI Securities, and Kotak Mahindra Capital, with legal counsel provided by Shardul Amarchand Mangaldas and Latham & Watkins LLP.


India.com
6 days ago
- Business
- India.com
Bad news for Narayana Murthy, Infosys to pay fine of Rs 10000000 for not providing…, IT company enters into…
Narayana Murthy (File) India's second-largest IT company, Infosys, has had one of its units fined in the United States. The penalty has been imposed on Infosys McCamish Systems (IMS), a subsidiary of Infosys BPM. The Department of Financial Regulation (DFR) of the State of Vermont imposed the fine on IMS. The company is accused of failing to provide timely and accurate information during the investigation of a cyberattack that occurred in 2023. Additionally, IMS reportedly delayed informing affected individuals whose data was potentially compromised in the breach. Fine On Infosys Unit Infosys on Friday said its step-down subsidiary Infosys McCamish Systems and the US State of Vermont Department of Financial Regulation have entered into a 'stipulation and consent order' to resolve, without a hearing, the matter related to McCamish cyber incident. Within 30 calendar days of the entry of the Stipulation and Consent Order by the Commissioner, IMS is required to pay an administrative penalty of USD 125,000, the Bengaluru-headquartered IT company said in a BSE filing. 'In continuation to our statement dated March 14, 2025, we would like to update that on July 9, 2025, Infosys McCamish Systems (IMS), a subsidiary of Infosys BPM limited (a wholly owned subsidiary of Infosys limited) and the State of Vermont (United States of America) Department of Financial Regulation (DFR) entered into a Stipulation and Consent Order,' it said. In simple terms, stipulation and consent order is a legal pact where parties agree to terms and conditions, to resolve or settle a case without more litigation. Infosys Plan To Settle Lawsuit Infosys filing further informed that DFR had alleged violations of the Vermont Security Breach Notice Act by IMS. This was on the ground that IMS failed to respond to the DFR's request for information in the course of the investigation into the cybersecurity event with timely and accurate information and records and failed to provide timely and accurate notice of the cybersecurity event to data owners. 'IMS has entered into the Stipulation and Consent order to resolve the matter without a hearing. The Stipulation and Consent Order specifically records that IMS does not admit the existence of the alleged violations as above,' it said. In March this year, Infosys had informed the stock exchanges that Infosys McCamish Systems reached an agreement to settle six class action lawsuits in the United States, in relation to 2023 cyber incident. (With Inputs From PTI)


Economic Times
6 days ago
- Business
- Economic Times
Is Anthem Biosciences IPO a risky bet for investors?
Agencies Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ET Intelligence Group: Anthem Biosciences, a contract research, development and manufacturing organisation (CRDMO), plans to raise ₹3,395 crore through an offer for sale. The promoter group's stake will fall to 74.7% from 76.9% after the initial public offering (IPO).The company's revenue and profit have shown improvement over the last two years. However, over 55% of its revenue comes from Europe, while its top-five customers contributed about 71% to revenue from operations in FY25, signalling geographical and client concentration. Also, inventory days, which shows the time taken to sell the products, are higher compared with some of its peers. Considering these factors, investors with high-risk appetite may consider the in 2006, Bengaluru-headquartered Anthem Biosciences undertakes drug discovery, development and 82% of its revenue is from CRDMO business and the rest from specialty ingredients. As of FY25, it had 242 projects with 68 discovery projects, 145 early-phase projects, 16 late-phase projects, and 13 commercial manufacturing projects. The company held one patent in India, seven overseas, and has filed 17 patent applications ' revenue from operations and net profit grew by 32.1% and 8.2% annually to ₹1,844.6 crore and ₹451.3 crore, respectively, between FY23 and FY25. Similarly, earnings before interest, taxes, depreciation and amortisation (Ebitda) grew by 23.8% to ₹683.8 crore. The Ebitda margin declined to 36.8% in FY25 from 41.5% in FY23, but still, it is better than the 23.9-31.7% for its peers. Research and development expenses as a percentage of revenue declined to 10.6% in FY25 from 24.5% in FY23. Net working capital days, though high, declined to 222 days in FY25 from 242 days in FY23, while inventory days jumped to 135 days from 98 the post-IPO equity and net profit for FY25, the company demands a price-earnings (P/E) multiple of up to 71 compared with P/Es between 51 and 147 for peers, including Syngene International, Sai Life Sciences, Cohance Lifesciences and Divi's Laboratories.