Three of India's largest IT services companies have taken over global capability centres (GCCs), the in-house technology units that multinationals run in India, this year. TCS took on Best Buy's India centre for about Rs 2,000 crore, Wipro bought Mindsprint…
Finance angle The finance angle is revenue that is bought and locked in. Wipro's Mindsprint deal is put at about USD 1 billion (Rs 9,625 crore) of revenue over eight years; TCS paid about Rs 2,000 crore for Best Buy's centre. These takeovers come with service contracts of five to eight years, at a time when AI is pushing down…
Wipro reported April-June IT services revenue of $2.61 billion, 1.0% higher than a year earlier but 1.4% lower than the previous quarter, and net profit of Rs 3,360 crore, up 0.6% on the year. Large deal bookings were $1.63 billion, up 12.9% sequentially in…
Finance angle Wipro's numbers show AI-led deals being signed without yet lifting revenue: large deal bookings grew 12.9% to $1.63 billion, but IT services revenue fell 1.4% on the quarter to $2.61 billion and the guided range of $2.574-2.627 billion for the next quarter brackets roughly flat sales. The company gave no separate AI…
Stories are summarised in our own words from the linked reports; every one credits its publisher. Facts and exposure, never a tip: XDQ Labs is not registered with SEBI, the US SEC, FINRA or any European regulator. US and European share prices are not shown.