India's third-largest software services company expects a boost in its consulting abilities post Appirio acquisition
Wipro, India’s third-largest software services company, said profits fell in the second quarter of FY2017, as clients focus on cost cutting and hold back spending on “change-the-business” IT services, amid multiple factors of uncertainty.
Profits for the three months ended September 30, 2016 fell 8 percent to Rs 2,074 crore from Rs 2,246 crore in the year-ago period, computed according to international accounting standards, Wipro said in a press release on Friday after BSE market hours.
CEO Abidali Neemuchwala expects the Bengaluru-based company’s latest acquisition, cloud services provider Appirio, to help it move faster to tap the demand for cloud computing and digital services. Wipro announced on Thursday that it was acquiring Indianapolis, US-based Appirio for $500 million.