The son of billionaire promoter Azim Premji addressed the Bengaluru-based company's 79th Annual Meeting via video conference on Wednesday, saying 2024-25 is a year of major change for Wipro and the world.
“We know that the external environment can remain uncertain, but resilient companies will be built in these times. The macro landscape continues to change and technologies like AI are expanding rapidly,” Premji said. “We're focused on becoming a consulting-driven, AI-driven organization.”
He highlighted that the company had a strong start in financial services consulting with the acquisition of Wipro's CAPCO in 2021, helping to expand across other industries.
Comments came one day before Wipro's first quarter revenue, scheduled to be released Thursday.
On Wednesday, Wipro shares rose 2% at Rs 262.70 per share in BSE.
Since last week, large rivals TATA Consultant Services (TCS) and HCLTech have reported that they have curtailed quarterly revenue and profit numbers, as US tariff-related uncertainties have continued to drive cautious spending by software service provider clients.
Wipro, the country's fourth largest software service provider, reported revenue of $10.5 billion from 2024-25.
“From 2026, we expect at least 70% of net income to be cumulatively reverted to shareholders over the three years,” Premji said.
Chief Executive Srinivas Pallia, who completed one year at Wipro in April, said uncertainty deepened by new tariff-led headwinds in the fourth quarter of 2024-25, so Wipro said clients are defining roadmap, identifying AI opportunities and helping them with business goals from the start.
“We have also launched a sponsorship program that has invested heavily in talent and leadership development through the Wipro Leadership Institute, boosting potential talent, leading top performers to key roles, and supporting their growth journey with AI First and AI Everything,” Pallia said.
Wipro has worked with HyperSchool to build more than 200 agents, adding that Agent AI has a concrete impact on the company's internal operations, including HR, finance and legal.
