The above graph represents Wipro annual revenue by IT services industry verticals. In fiscal 2018, Wipro IT Services segment revenue clocked Rs 528,410 million ($8,116 million). Wipro’s BFSI ( Banking, Financial Services and Insurance ) is the largest business unit, accounted for 28% of the total IT Services segment revenue in 2018. The revenue from BFSI increased by nearly 9% YoY to Rs 148,062 million.
Manufacturing and Technology (MNT) is the second largest industry vertical of the IT Services segment, accounted for 22.8% of the total segment revenue in 2018. This is followed by the Consumer Business Unit (CBU), contributing 15.9% to the total IT Services segment revenue.
In 2018, Wipro’s IT Services segment remained flat, primarily due to decreased revenue from the Healthcare and Lifesciences (HLS) and Communications (COMM) verticals. Wipro’s annual revenue from Healthcare and Lifesciences (HLS) declined by 9.8% YoY to Rs 74,177 million. However, the revenue from Communications (COMM) declined by a notable 13% YoY to Rs just 33,710 million in 2018 – the lowest in the last 4 years.
Wipro IT Services Industry Verticals: Additional Information
Wipro IT Services business is organized into six industry verticals:
- Banking, Financial Services and Insurance (BFSI)
- Healthcare and Lifesciences (HLS)
- Consumer Business Unit (CBU)
- Energy, Natural Resources & Utilities (ENU)
- Manufacturing and Technology (MNT)
- Communications (COMM)
From selling vegetable and refined oils to becoming the first Indian IT Company to be ISO certified, “Western India Vegetable Products Limited” aka Wipro Limited (NSE: WIPRO) has come a long way since its incorporation by Mohammed Premji on 29th December 1945.
After Mohamed Premji’s death, in 1966, his son Azim Premji took over Wipro as its Chairman. He holds a Bachelor of Science in Electrical Engineering from Standford University.
On 7 June 1977, the company’s name changed from Western India Vegetable Products Limited to Wipro Products Limited. Later in 1982, the company’s name was changed again, from Wipro Products Limited to Wipro Limited.
With its headquarters in Sarjapur, Bengaluru, Karnataka, India, its products and services are not confined to a niche. It manufactures products in Personal care and healthcare, Lighting, Furniture and provides IT-Based services in Digital Strategy, Consulting, Outsourcing & Aerospace. This huge list of products and services gained Wipro revenue of $8.5 billion in FY 2019.
Wipro claims to have 175,690 dedicated employees worldwide as of FY 2019. Out of which, 35.2% are women employees.
In 1990, Wipro formed a joint venture with GE Healthcare South Asia called “Wipro GE Medical Systems Limited”. This partnership was engaged in the research and development of advanced solutions to cater to patient and customer needs in healthcare.
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