Home / Companies / News /  Wipro spins out govt business as separate segment

New Delhi: Wipro has carved out a separate segment for catering to the business it gets from the government and public sector companies, according to a company release sent to the stock exchanges. Wipro had last quarter disclosed its plan to carve out this business “given their distinct operating rhythm and need for differentiated execution rigor." The rest of the India enterprise business would continue to be part of its IT services segment.

The Bengaluru-headquartered company was compelled to effect the change, effective October 1, 2018, as the government business has its distinct qualities where the decision-making is slow and an IT company needs much more time to recover its money compared with the private sector.

The company is now organized into the following operating segments: IT services, IT products and India state-run enterprises.

Wipro’s IT services segment primarily comprises IT service offerings to customers organized by industry verticals. The industry verticals in this segment are banking, financial services and insurance (BFSI); health business unit; consumer business unit; energy, natural resources and utilities; manufacturing; technology and communications.

The IT products segment is a reseller of desktops, servers, notebooks, storage products, networking solutions and packaged software for leading international brands.

Also read: Wipro announces 1:3 bonus; Q3 net profit rises 30%

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