Wipro will achieve revenue target of $15 b by 2020, says CFO

Wipro will achieve its ambitious revenue target of $15 billion by 2020 at a time when global economy is going through uncertain times, said Chief Financial Officer Jatin Dalal.

In an interaction with DH during the third quarter results, Dalal said the company has spoken a lot about its ambition. “If we are not ambitious then there is a problem. Also, along with ambition what matters more is the energy that is generated in the organisation,” he said. 

When asked to make a review of the performance, he said the first year of the company’s operation had been tougher than what they had expected.

“I wouldn’t say that it was tougher, but the environment was uncertain. This uncertainty has played an important part in the journey of all IT companies and I would not like to pinpoint the names. It is evident if you compare the full year guidance they had given in the beginning and what they achieved in the end. Their growth will likely be impacted in this year,” he said.

DH News Service

Dalal said Wipro learned a lot during the last one year and that should be an additional ammunition for the company for the remaining years. “If you ask me I will say third quarter is actually good for the company as we executed better. Besides IT services business expanding to 18.3% from 17%, Wipro registered growth in all other segments,” he said.

The CFO said the company also gained good execution rhythm in Q3. “While there are one-time benefits like Danish acquisition of DesignIT, Wipro had to face adverse movement as we have done the restructuring of India and the Middle East business. But those impacts have offset each other,” he siad.

He added the company has made certain pillars to achieve its target including digital, consulting and some of the investments made. “On the run side of the business, it will depend mainly on how we will deploy our HOLMES platform to save cost to become competitive in the market. On the change side, we have made lots of investment, including in Appirio. Our ambition is to work with that and also to quickly achieve the same,” he said.

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