Wipro Restructures Business Into Four Verticals To Align With Clients’ Needs

Wipro Ltd. has restructured its business into four “global business lines” to align better with clients’ evolving needs in an increasingly online world.

To be sure, this is the second restructuring exercise that Delaporte has effected in less than three years at the helm of affairs at Wipro. The IT firm had replaced its seven strategic business units, service lines and nine geographies with four strategic market units and two global business lines. These changes were effective from Jan. 1, 2021.

Since then, Wipro claims to have recorded 45% revenue growth to cross the annual run rate of $11 billion (about Rs 90,000 crore). In the three months ended Dec. 31, 2022, the IT firm’s net profit rose 15.7% over the previous quarter to Rs 3,065 crore, on the back of revenue that increased 3.08% sequentially to Rs 23,230 crore.

“Our transformation journey over the past three years has yielded outstanding growth for our business,” Delaporte, who took over as Wipro's chief executive officer in June 2020, said in the exchange filing. “So much that we have outgrown the two-business line model that we had set at the beginning of our journey.”

“We are now doubling down on our strategic bets to take our growth to its next phase,” he said.

On Monday, shares of Wipro fell 0.76% to Rs 390.30 apiece on the BSE even as the benchmark Sensex ended the day 0.30% lower at 59,288.35 points.