Wipro Limited, a leading global information technology, consulting and business process services company today provided a business update on its Chennai Operations.The recent heavy rainfall and resultant flooding impacted the regular business operations of Wipro’s Chennai facilities during the first week of December.
Business continuity plans were invoked for the work being done from our facilities to ensure there was no disruption in the business-critical operations of our customers Wipro has multiple facilities in Chennai with over 22,000 employees. Wipro has been focused on ensuring the safety of its employees and their families and has rolled out multiple employee support initiatives to mitigate their hardship during this period. Wipro deeply appreciates the efforts of its employees in Chennai for their tremendous enthusiasm and dedication to honour customer commitments in a very challenging environment.
Wipro Cares, the community initiatives arm of Wipro has partnered with multiple social organizations to provide immediate relief efforts in Chennai through the supply of food grains, clothing, primary healthcare and medicines to flood-affected communities. Wipro will continue to monitor the situation and review the need for further support to relief operations.Wipro has largely seen the restoration of normal operations in Chennai facilities. Wipro has adequate insurance coverage and is in touch with the insurance companies to assess the damage and the claim will be subject to policy terms.
Outlook for the Quarter ending December 31, 2015
For the quarter ending December 31, 2015, the incident is expected to have a material impact on the Revenues and will result in higher one-time cost incurred towards deployment of our business continuity plan. Both these factors will impact our Operating Margins for the quarter. Revenues from our IT Services business are expected to be in the previously communicated range of $ 1,841 million to $ 1,878 million*; However, we expect revenues to be in the lower half of the guidance range.* Guidance is based on the following exchange rates: GBP/USD at 1.55, Euro/USD at 1.12, AUD/USD at 0.72, USD/INR at 65.34 and USD/CAD at 1.33
About Wipro Limited (NYSE: WIT)
Wipro Ltd. is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360 degree view of “Business through Technology.” By combining digital strategy, customer centric design, advanced analytics and product engineering approach, Wipro helps its clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has a dedicated workforce of over 160,000, serving clients in 175+ cities across 6 continents.
Courtesy by www.businesswire.com
