Amid the #pandemic in June 2020, #Wipro appointed former Capgemini COO @TDelaporte as its CEO with a mandate to “transform and take tough decisions.” The 56-year-old has driven Wipro's aggressive acquisition spree, buying a dozen companies for over $2.3 billion in last 3 years.
In an exclusive interview with ET’s @Sai__ET, @Romita__ET and @SurabhiA_ET, Delaporte said the company is taking bold bets and decisions in order to “transform.”
Here are some edited excerpts 👇
On Wipro's growth: We’ve grown 45% in the last two and a half years and if we can do that, always (we) will be in a good place. Believe me. I think I'm very comfortable with the growth we've driven over the years. I stay focused on our plan and on the execution.
On his performance over the last three years: The performance of the company has been solid in terms of growth. In terms of profitability, we've had a dip four quarters ago but I think the performance on our margins is solid, keeping in mind the acquisitions we've made.
On Wipro's profitability: We are between 16 and 16.5% for the last three-four quarters. We will trend up. Yes, there is a gap that exists. And it's been here for 20 years. So, it’s not something that suddenly has happened.
Read the wide ranging interview here:
I was brought in to transform, take tough decisions: Wipro CEO Thierry Delaporte
📣📣 OpenAI CEO @sama will be in conversation with @satyan, vice chairman, Times Internet, hosted by @EconomicTimes, to discuss the impact of AI on businesses, jobs, and society at large.
To watch the conversation live, click here👇
@sama@satyan@EconomicTimes The launch of ChatGPT — owned by the Sam Altman-helmed OpenAI, a company dedicated to research and deployment of AI — in November 2022 is widely reckoned to be a pivotal moment in the AI revolution
🚨Global management consulting and strategy advisory firm Zinnov and venture capital firm Chiratae Ventures on Tuesday marked down 2026 revenue projections of the Indian software-as-a-service (#Saas) startups from $100 billion to $26 billion in its latest annual report.
The report, titled India #SaaSonomics: Navigating Growth and Efficiency, said that concerns of a recession loom large for the Indian #SaaS industry, but that it has displayed remarkable antifragility to withstand turbulent times.
The report indicated three challenges plaguing the industry -- customer churn, customer demand slowdown and delayed sales cycles, and downward pressure on cash flows caused by macroeconomic headwinds.
🚨There may be a further demand slowdown for Indian IT firms in the quarter ending June, going by the latest results of global software-as-a-service (#SaaS) and digital engineering firms.
Analysts though expect the demand to revive in the second half of 2023-24 as deal pipelines remain strong and there would be additional business from cost-optimisation initiatives that will benefit the Indian IT sector.
Indian IT companies have sell-to and sell-with partnerships with #SaaS firms like #Servicenow, #Salesforce, #Snowflake and #Workday, while the performance of digital engineering firms like Globant, EPAM and Endava can be considered a proxy for high-end digital services demand.
🚨Welcome to a new edition of #FullStack by @samidhas, a place where you’ll find unfiltered commentary on all things technology. Read on 👇
#Edtech major #Byju's is faced with a trifecta of issues. There is the $1.2 billion TLB (term loan B), delayed audited results, and an equity funding round which has been in the works for months now
On Tuesday, #Byju’s defaulted on interest payment of $40 million for its term loan. That was not all, the beleaguered edtech firm said it is suing hedge fund Redwood, one of its lenders.
🚨After #digital payments and digital lending, the @RBI is looking closely at platforms that facilitate direct, or peer-to-peer (#P2P), lending between individuals.
While P2P startups, as regulated non-banking finance entities, need to share business updates with the regulator on a constant basis, the RBI has now asked them about partnership models with consumer-facing applications, the flow of funds, risk sharing among partners and so on.
#BharatPe, #Jupiter and #Cred are among the major consumer-focussed applications which work closely with NBFC P2P platforms. P2P startups such as Liquiloans and LenDenClub have built partnerships with these and multiple other consumer-focused platforms.
On Monday, Bloomberg reported that Byju’s plans to make a quarterly interest payment of about $40 million on a loan that has been at the centre of the firm’s financial troubles 👇