The exit of the 21-year Wipro veteran and senior leader is the ninth top-level exit in calendar year 2023.
"Chandra is the right man for the right job who brings a lot of experience, maturity and midas touch," V Balakrishnan, former Infosys CFO said.
Speaking with CNBC-TV18 on the occasion, Suresh Senapaty, former Executive Director and Chief Financial Officer of Wipro who worked with Premji for 36 years shared his view on how the investor and philanthropist played an important role in development of the IT industry.
Other members on the panel include Wipro CFO and Executive Director Suresh Senapaty, NSE Managing Director and CEO Chitra Ramkrishna, Comptroller and Auditor General of India (CAG) Director General AB K P Sasidharan and ICAI's S Santhanakrishnan.
V Balakrishan, former CFO of Infosys said he along with his former colleague Mohandas Pai and with Suresh Senapaty would like to leverage the power technology to create a virtual bank in India that would benefit not only consumers but also create world class bank.
IT services revenue rose 3.9 percent to Rs 11,344 crore in October-December quarter and dollar revenues increased 1.3 percent to USD 1.795 billion on sequential basis.
Wipro said it expects IT services revenue in the range of USD 1.81-1.84 billion for October-December quarter of the current financial year 2014-15.
For the quarter ended March 2014, Wipro expects revenues from IT services business to be in the range of USD 1,712 million to USD 1,745 million including the revenues from acquisitions.
Its IT services revenue rose 5.9 percent year-on-year to USD 1.63 billion, whereas sequential revenue growth stood at 2.7 percent. In rupee terms, IT Services revenues stood at Rs 10,068 crore in the quarter under review.
Given the fact that the first quarter of the financial year is traditionally a weak quarter for Wipro's Indian business, one should not read too much into the guidance, says chief executive officer TK Kurien.
India's third largest software services exporter Wipro reported fourth quarter consolidated net profit growth of 17 percent year-on-year (near 1 percent sequentially) to Rs 1,729 crore, helped by new deal wins.
India's No.3 software services provider Wipro Ltd's (WIPR.NS) less-than-perfect score on its quarterly earnings report card threw a measure of doubt over the sector's near-term outlook, with new projects and contracts still elusive.
In an interview to CNBC-TV18, Wipro's management, executive director and chief financial officer Suresh Senapaty, chief executive officer-IT biz and executive director TK Kurien, executive VP-HD Pratik Kumar, speak about the results and give their outlook going forward.
Profit margins at Wipro Ltd, India's No.3 software services provider, are expected to improve after it separates its non-IT businesses, the company's Chief Financial Officer Suresh Senapaty said on Thursday.
India's third largest software services provider Wipro's consolidated net profit for the fourth quarter rose 7.7% year-on-year to Rs 1,481 crore, in-line with market expectations. However, shares plunged over 7% on opening on Wednesday after the street was disappointed with its muted guidance for the first quarter.
A jubilant Wipro is gaining fast on the bourses today after it posted a better-than-expected second quarter earnings today. The software service provider company has managed to improve it volume growth at a time when the world economy is grappling with various crisis and downgrades.
Wipro CFO Suresh Senapaty says that he sees no reason right now to review hiring projections despite the macro economic situation. He also said that while there maybe some delays in budget spends by clients, Wipro hasn't started seeing such delays just yet.
India’s third-largest software services provider Wipro is seeing some signs of positive momentum amid increased outsourcing as clients focus on optimizing operations.
The panel highlighted recent developments using a number of current examples. They also gave recommendations for development of facilitative policy for financing of transactions.
Big changes have taken place at Infosys after all the hoop-la surrounding the question, who will succeed Narayana Murthy. Well, the suspense is finally over with KV Kamath taking over the mantle at Infosys. So how is competition digesting this change of guard?
From the top management at Wipro, TK Kurien, CEO, IT Business & Executive Director; Suresh Senapaty, Executive Director & CFO and Pratik Kumar, Corporate, VP-HR, spoke about the company's performance and how they saw the road mapping out going forward.
In an interview with CNBC-TV18, Suresh Senapaty, CFO of Wipro said, "We are very happy with this acquisition because we think it is in line with our strategy of filling in gaps, complementarity or building critical mass in some of these areas that we are focused on."
"With the environment for the IT sector looking positive, we are confident of growth despite tepid volumes in the previous quarter," the management said, adding that the attrition rate for the quarter was down by 2%, and it saw further decline there.