BENGALURU: Appirio India Cloud Solutions is the only company that has reported growth in business among four of Wipro’s subsidiaries, which are slated to be merged into its parent.Appirio India, which specialises on cloud computing based services, reported Rs 11.12 crore profit on revenues of Rs 76.17 crore in FY18. Last financial year, Appirio reported Rs 10.78 crore profit on revenues of Rs 69.74 crore.Wipro, India’s third largest software services exporter, had earlier notified a scheme to merge Wipro Technologies Austria GmbH, Wipro Information Technology Austria GmbH, New-Logic Technologies SARL and Appirio India Cloud Solutions with Wipro.The Bengaluru-headquartered company acquired cloud-based services provider Appirio for $500 million. Appirio, analysts said, has added significant value to the company’s capabilities in emerging technology services and has been quick to impact the overall technology services business.Wipro disclosed the financial number of Appirio India and the three other subsidiaries.Other three companies have witnessed decline in profit and revenue number in the past year. Of them, Wipro Information Technology Austria GmbH reported a net loss of 70,076 euros on revenues of 10,922,964 euros in the last fiscal.65418180 Wipro, in its filing with the stock exchanges, said that the merger would help improving efficiency and reducing costs.The company said this merger would “enable the Transferee company to address newer solutions and services to its customers and to the Transferor companies' customers and enhance its marketing capabilities”.Wipro has informed the BSE on Tuesday that the company has called a meeting for shareholders and unsecured creditors on September 19 pertaining to the merger of the four subsidiaries as directed by the Bengaluru Bench of the National Company Law Tribunal.
from The Economic Times https://ift.tt/2MvwrXi
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