Latest news with #Palia
&w=3840&q=100)
Business Standard
6 days ago
- Business
- Business Standard
Wipro projects a slightly better second quarter on strong deal pipeline
Wipro reported a 10.9 per cent rise in net profit to Rs 3,330 crore for the first quarter, compared to a year earlier. Sequentially, profit was down 6.7 per cent. Revenue for the first quarter stood at Rs 22,134.6 crore, marginally up 0.77 per cent year-on-year (YoY). On a quarter-on-quarter (QoQ) basis, revenue declined 1.6 per cent. The company's Q1 performance marginally beat Bloomberg estimates. According to Bloomberg, revenue was expected at Rs 22,078.3 crore and net profit at Rs 3,249.4 crore. Revenue from the IT services segment was $2,587.4 million, down 0.3 per cent QoQ and 1.5 per cent YoY. In constant currency terms—excluding the impact of currency fluctuations—IT services revenue declined 2.3 per cent YoY and 2 per cent sequentially. These figures were within the guidance range issued in April, when the company forecast a de-growth of between 1.5 and 3.5 per cent for Q1. Chief Executive Officer Srini Palia attributed the revenue drop to macroeconomic uncertainty. 'We remain cautious in this environment and the uncertainty continues,' he said on Thursday. Despite the softness, Wipro reported strong deal bookings of about $5 billion for the quarter ended 30 June, nearly double compared to the same period last year. Large deal bookings—defined as contracts with total value of $30 million or more—rose 131 per cent to $2.66 billion. The strong pipeline led India's fourth-largest IT services firm to revise its Q2 guidance. Wipro now expects to de-grow by 1 per cent at worst, or grow by 1 per cent at best, in constant currency terms. 'While discretionary budgets are tight, we see strong deal momentum in America, especially in BFSI, where demand is strong and steady. Healthcare is also doing well,' Palia said. "Overall results are mixed bag with lower-than-expected dip in IT Services Sales (down 2% qoq in CC terms vs. EE of 2.6% qoq dip) but with marginally lower than expected EBITM in IT Services at 17.3% vs. our expectations of 17.4%. Reported strong order intake (with two mega deal wins on base of 1 mega deal in 4Q) but despite same IT Services CC growth guidance for 2QFY26E (qoq CC growth guidance of dip of 1% to growth of 1% qoq – in-line with our expectations) is not pleasing (hence, we believe that Wipro's growth in 2H could be better than 1H – await clarity). Announced interim dividend of INR 5/Share," said a note from Equirus Securities. In Q1, BFSI saw a decline of 3.5 per cent, while healthcare posted a 3.5 per cent increase. Other sectors such as consumer, retail and manufacturing are expected to remain subdued due to the impact of tariffs. Palia is relying on large deals to revitalise growth at Wipro, which has trailed its peers for over a decade. The company won two mega BFSI deals in Q1, in addition to 14 large deals across verticals. However, such deals—typically focused on cost optimisation and vendor consolidation—require upfront investments, are slow to ramp up and can squeeze margins in a subdued demand environment. Chief Financial Officer Aparna Iyer acknowledged the margin pressure. 'These deals need upfront investment,' she said. Operating margin stood at 17.3 per cent, up 120 basis points YoY but down 20 basis points sequentially. Among Wipro's four strategic market units, Americas 1 grew 5.8 per cent in Q1, while Europe continued to face headwinds, declining about 12 per cent in constant currency terms.
India.com
24-05-2025
- Business
- India.com
Salary of Wipro's Rishad Premji's jumped to Rs 136121680 but CEO Srinivas Pallia's package will leave you in shock, his salary is a massive Rs....
Salary of Wipro's Rishad Premji's jumped to Rs 136121680 but CEO Srinivas Pallia's package will leave you in shock, his salary is a massive Rs.... When we talk about richest individuals in the world, Elon Musk tops the list. And as far as company executives are concerned in India, Reliance always tops the list. But do you know, there is huge gap between a Executive Chairman and CEO's remuneration of a Indian company even after pay hike. Yes, we are talking about Wipro. Wipro Executive Chairman Rishad Premji's remuneration has doubled to about Rs 13.7 crore in the financial year 2024-25. However, this is much less than the annual income of about Rs 53.64 crore of the company's Chief Executive Officer (CEO) Srinivas Palia. This information has been given in the company's latest annual report. This is because, Rishad Premji did not take any 'commission' in FY 2023-24 as the company's incremental consolidated net profit was negative that year. That year he took a salary of about Rs 6.4 crore with a pay cut of about 20 percent. However, the Bengaluru-headquartered company's net profit grew 18.9 per cent to Rs 13,135.4 crore during FY 2024-25. According to the '20-F filing' (annual report) submitted by Wipro to the US Securities and Exchange Commission, Premji's remuneration will double to about Rs 13.7 crore in the financial year 2024-25, from about Rs 6.4 crore in the financial year 2023-24. At the same time, Srinivas Palia, who took over as CEO and Managing Director on April 7, 2024, received a remuneration of about Rs 53.64 crore in the financial year 2024-25. Palia's remuneration is less than half the salary of the company's former CEO Thierry Delaporte. Delaporte received a salary of around Rs 168 crore in the financial year 2023-24. According to the documents, Palia earned nearly $1.7 million as salary and allowances, nearly $1.7 million as commission/variable pay, nearly $2.8 million classified as 'other' and $68,850 as long-term compensation. According to this, Premji and Palia are entitled to get 'commission' at the rate of 0.35 percent on the incremental integrated net profit of the company compared to the previous financial year. In addition, Palia was also allotted 16,77,202 share options with different 'lock-in' periods. However, Premji was not given any share option in the financial year 2024-25.
New Indian Express
01-05-2025
- Health
- New Indian Express
Puri police conduct mock drill at Jagannath Temple to assess emergency response for Rath Yatra
BHUBANESWAR: Ahead of Rath Yatra next month, Puri police conducted a mock drill on Wednesday to assess the preparedness and coordination among various departments to respond to any medical emergency at the Shree Jagannath Temple during the festival. The objective of the exercise was to assess the preparedness and coordination among cops, temple administration, Health department and other emergency response teams during any medical exigency that may arise on the temple premises, especially during peak hours and festive days, police said. The mock drill was carried out to strengthen emergency response mechanisms, enhance inter-agency coordination and ensure the safety and well-being of devotees and sevayats inside the temple, they added. As part of the exercise, a mock medical emergency situation was enacted where a dummy devotee collapsed near the sanctum sanctorum (Garbha Gruha). The medical staff provided first aid to the unwell dummy devotee, following which he was swiftly evacuated on a stretcher through the shortest exit path in the temple. Police officers, ambulance and medical staff, and officials of Shree Jagannath Temple Administration (SJTA) as well as Odisha Fire and Emergency Service participated in the mock drill. Their roles and responsibilities were assigned as per the standard operating procedure (SOP). The internal communication and alerting systems, including the VHF sets, were tested to ensure their efficiency and timeliness. The drill was carried out without causing any disruption to the temple rituals or the movement of the devotees. 'Ensuring the safety of devotees and sevayats inside the Shree Jagannath Temple is our top priority. This mock drill was designed to test and strengthen our readiness to handle medical emergencies promptly and effectively,' said Puri SP Vinit Agrawal. Such drills are crucial in building confidence among the devotees and the staff while also identifying the potential gaps in the mechanism to deal with any medical emergency. The involvement and support of the local community further strengthened the objective of the exercise, he added. Meanwhile, earlier in the day during Akshaya Tritiya celebrations, which marked the commencement of 'Rath Nirman' (construction of the chariots) and Chandan Jatra of Lord Jagannath, police formed a human chain to create a dedicated corridor for Palia sevayats to facilitate their smooth entry into the temple amid the huge rush of devotees.
