NRGi selects Wipro as a strategic IT partner
Mayuresh Deshmukh / 14 Mar 2016
India's third largest software service firm Wipro informed stock exchanges that it has won a multi-year engagement with Natural Resource Governance Institute (NRGi). NRGi is one of the top 5 utility providers in Denmark.
India's third largest software service firm Wipro informed stock exchanges that it has won a multi-year engagement with Natural Resource Governance Institute (NRGi). NRGi is one of the top 5 utility providers in Denmark. As part of the contract, Wipro will develop a new Information Technology (IT) platform to transform the utility company’s Customer Relationship Management (CRM), billing and service bureau operations.
Currently Denmark is opening up its energy sector and reworking the regulatory framework to bring in more transparency for customers and pave the way for setting up a competitive market for energy suppliers and utility companies.
Wipro will design, build, host and deploy a Customer Information System (CIS) for NRGi in a "Platform as a Service" (PaaS) model. The CIS- as- a-Service solution is based on Oracle’s customer care and billing platform; metre data management platform; and Oracle customer experience solutions. This platform will drive the digital transformation at NRGi, to enable the utility company for becoming more customer centric and also to acquire more customers.
On financial front the consolidated net revenue from operations of Wipro reached Rs 12952 crores in Q3FY16 compared to Rs 12567 crores in Q2FY16, an increase of 3.06 per cent Quarter on Quarter (QoQ). The EBITDA stands at Rs 2763 crores this quarter compared to Rs 2782 crores in Q2FY16, a decrease of 0.68 per cent QoQ. The EBITDA margin stands at 21.33 per cent this quarter compared to the margin of 22.13 per cent in Q2FY16. The decrease in EBITDA is attributed to increase in technical fees of company by 9.63 per cent this quarter, standing at Rs 1741 from Rs 1588 crores in Q2FY16. The net profit stands at Rs 2234 crores in Q3FY16 compared to Rs 2235 crores in Q2FY16, a decrease of 0.05 per cent QoQ.
On valuation front the stock of company is trading at Trailing Twelve Month (TTM) P/E of 14.97 as compared to industry P/E of 20.93. The stock of the company is trading at Rs 541.75, an increase of 0.16 per cent from previous close.
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