Wipro Shares in Focus; Secures Multi-Million Dollar Contract With Etihad Airways

Wipro Limited’s share price showed a strong rebound during the opening trade on January 31, 2025. After opening at ₹311.70, the stock dipped to a low of ₹311.50 but quickly recovered, climbing to ₹314.20 reflecting a gain of ₹5.20 or 1.68%.

This positive movement not only reversed the early dip but also helped erase the 1.8% loss from the previous day

Partnership Details 

Wipro, India’s fourth-largest IT services firm, has announced that it has secured a multi-million-dollar, 5-year deal from Etihad Airways, the national airline of the UAE. This contract will focus on the modernisation of Etihad’s technology infrastructure and the migration of legacy systems.

Under the agreement, Wipro’s FullStride Cloud solution will be used to provide real-time insights into resource utilisation, enhancing operational agility and scalability. This cloud-based transformation will improve Etihad Airways’ ability to manage global operations more efficiently.

Cloud and AI Integration to Enhance Operations

Wipro will also leverage its expertise in generative artificial intelligence (GenAI) to offer intelligent device management and predictive insights, proactively addressing potential disruptions.

Additionally, Etihad Airways will gain access to Wipro’s Innovation Lab in the UAE for further tech development.

This deal marks a significant step in Wipro’s push to enhance its presence in the aviation sector and reflects its commitment to digital transformation for large global enterprises.

Q3 FY25 Financial Highlights

Wipro’s Q3 FY25 results, announced on January 17, 2025, showed a solid performance with a 24.48% year-over-year increase in net profit, reaching ₹3,353.8 crore.

The company’s revenue for the quarter stood at ₹22,318.8 crore, marking a modest 0.51% growth compared to the same period last year.

On a quarter-over-quarter basis, revenue saw a slight increase of 0.08%, while profit grew by 4.52%. Operating income also showed positive growth, up 4.89% from the previous quarter, reflecting a strong performance in the company’s core operations.

Additionally, Wipro reported an improvement in its Earnings Per Share (EPS), which rose by 13.88% year-over-year to ₹3.2.

Despite this positive growth, the company faced an increase in Selling, General, and Administrative (SG&A) expenses by 5.93% quarter-over-quarter, although these expenses decreased by 8.18% on a year-over-year basis.

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