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IT services major Wipro Friday posted a 31.8 per cent increase in consolidated net profit at Rs 2,544.5 crore for October-December 2018 compared to the year-ago period. Wipro's board has also approved an issue of bonus shares offering one bonus share for every three held by shareholders. The net profit in the October-December 2017 quarter was at Rs 1,930.1 crore. The revenue from operations expanded 10.17 per cent to Rs 15,059.5 crore during the period under review from Rs 13,669 crore in the third quarter of FY 2017-18. "It is yet another quarter of solid execution. Our performance in both revenue and margins has been robust," Wipro CEO and executive director Abidali Z Neemuchwala told reporters here. In the constant currency terms, the IT services grew by 2.4 per cent which i...

Infosys, an Indian IT services, announced that it will increase the salary of a major portion of its 2 lakhs employees from “mid-single digit to high-single-digit”, starting April onward. Moreover, the firm set aside a special bonus pool worth $10 million that employees will receive as incentives on their variable salary that has been hiking since a year already. “We are also pleased to announce compensation revision for 85% of our employees starting April. For rest of the employees, primarily middle management and senior management, it will be effective July 1. This is for both onsite and offshore,” said Infosys Chief Operating Officer UB Pravin Rao. The COO also announced that most of the firm’s employees operating in India will receive raises from “mid-single digit to high-sing...

Tag: IT services

Wipro Sees 31.8% Rise in Net Profit

85% Infosys Employees Will Receive Increment