New Delhi, May 3 -- IT services firm Wipro has appointed Hari Shetty as the chief strategist and sales excellence officer. A 31-year-old Wipro veteran, Shetty is being elevated from his previous position as the technology platform, products, and gaming business division lead. He has experience across domains such as client engagement, strategy development, execution, and profit and loss oversight.
Shetty is an alumnus of the Indian Institute of Science (IISc), Hari holds a multi-disciplinary educational background with degrees in computer science & engineering (B.E), management (MTech), finance (CFA), and law (LLB).
He has also been the head of digital for consumer business where he led the digital transformation-based initiatives. He also established the retail and distribution vertical, one of the largest within the organisation. As per the latest earnings result declaration, BFSI and consumer business verticals contributed more than 50% to the overall revenue; however, in constant currency, consumer business fell 7.4% year-on-year.
Wipro Ltd announced on Friday that its net profit fell by 8% to Rs.2,835 crore for the fiscal fourth quarter, compared to the same period last year when it stood at Rs.3,074 crore for the quarter ended on March 31, 2024. Wipro's consolidated revenue saw a decline of 4.2%, amounting to Rs.22,208 crore, down from Rs.23,190 crore in the same period last year.
Srini Pallia, the new CEO and managing director, acknowledged the challenges faced in FY24 but expressed optimism about the opportunities ahead. Pallia emphasized that Wipro is on the verge of a major technological shift, particularly with the increasing demand for artificial intelligence.
Published by HT Digital Content Services with permission from TechCircle.