MAM
AFAA elects Srinivasan Swamy as chairman
Mumbai: The Asian Federation of Advertising Associations (AFAA) has elected Srinivasan Swamy as its chairman for a term of four years, at its general body meeting held on Tuesday.
Swamy, a doyen of advertising and the chairman of R K Swamy Hansa Group, has held leadership positions in many industry bodies at a national and global level. He has been International Advertising Association (IAA) chairman and world president, Confederation of Asian Advertising Agency Associations (CAAAA) chairman, Advertising Agencies Association of India (AAAI) president, IAA India Chapter, Advertising Standards Council of India (ASCI) chairman, All India Management Association (AIMA) president, to name a few.
“This is a privilege not just for me but for the Indian marcomm community at large. The AFAA not just hosts the prestigious AdAsia conference, but is also connected with AdStars, and runs the widely acclaimed FastTrack program where young professionals are trained and transformed in a three-day program,” said Swamy. “I look forward to making a meaningful contribution to the communications industry in Asia, as well as seeing how AFAA can work along with other global industry Associations and further the cause of professionalism.”
India gave AFAA two distinguished Chairmen in the past – Gautam Rakshit and Pradeep Guha.
AFAA is represented in India by the Advertising Council of India (ACI) whose members are The Advertising Club, Advertising Agencies Association of India, the India Chapter of International Advertising Association, Indian Broadcasting and Digital Association, and the Indian Society of Advertisers.
Brands
Wipro hires 7,500 freshers, withholds FY27 hiring outlook
Profit rises to Rs 3,522 crore, Rs 15,000 crore buyback announced.
MUMBAI- Hiring may be on, but visibility is off, Wipro is adding talent even as it pauses the crystal ball. The company hired 7,500 freshers in FY26 but stopped short of offering any hiring outlook for FY27, underscoring the uncertainty gripping the IT services sector as it pivots towards an AI-led operating model.
The disclosure came alongside its fourth-quarter earnings, where management flagged volatile demand conditions and refrained from committing to future workforce expansion. Chief human resources officer Saurabh Govil noted that over 3,000 of the total hires were onboarded in the March quarter alone, signalling continued intake despite a lack of clarity on deployment pipelines.
This divergence active hiring without forward guidance reflects a broader industry pattern where talent acquisition continues even as deal conversions remain uneven and client spending cycles stretch. Wipro expects its IT services revenue for the June quarter to range between a decline of 2 per cent and flat growth sequentially in constant currency terms, reinforcing near-term caution.
Chief executive officer Srini Pallia pointed to artificial intelligence as both a disruptor and an opportunity. He said evolving client priorities are pushing the company towards outcome-driven engagements, with Wipro increasingly focusing on a services-as-software model through its AI Native Business and Platforms unit. The shift marks a structural change from traditional headcount-led growth to AI-enabled delivery frameworks.
The company has already committed over $1 billion to its AI ecosystem, with investors closely watching how these investments translate into revenue. For now, the numbers present a mixed picture. Net profit rose sequentially to Rs 3,522 crore, while revenue grew 3 per cent to Rs 24,236 crore. However, core IT services performance remained under pressure, with full-year revenue declining 0.3 per cent in dollar terms and 1.6 per cent in constant currency.
Large deal bookings offered a counterpoint, rising 45.4 per cent year-on-year to $7.8 billion, highlighting a widening gap between deal wins and actual revenue realisation. On a quarterly basis, IT services revenue slipped 1.2 per cent sequentially, signalling continued softness in execution.
Margins, however, told a more optimistic story. Operating margins expanded to 17.3 per cent in the fourth quarter, up from 14.8 per cent in the previous quarter, reflecting improved cost discipline. That said, the company cautioned that upcoming wage hikes and the ramp-up of large deals could exert pressure going forward.
Attrition stood at 13.8 per cent in the March quarter, indicating stabilisation after periods of elevated churn. Alongside its earnings, Wipro also announced a Rs 15,000 crore share buyback, reinforcing its focus on shareholder returns, with a payout ratio of 88 per cent over the past three years.
Taken together, the numbers capture a company in transition investing in AI, maintaining hiring momentum, but navigating a demand environment where growth is uneven and visibility remains limited.
