MAM
First win for Ad Club prez Raj Nayak: McCann back in Goafest fold
MUMBAI: After a consecutive no-show for the last two years at the Abby Awards and Goafest, the Prasoon Joshi led McCann Worldgroup India has announced that the agency will take part in the 11th edition of the advertising festival.
The move comes close on the heels of the new Advertising Club president and Colors CEO Raj Nayak announcing his intention to make Goafest 2016 more inclusive.
Confirming the agency’s presence at the festival, McCann India Asia Pacific chairman and CEO Prasoon Joshi says, “We will send symbolic token entries to honour the festival in all the categories but our delegates will participate and attend the fest in large numbers. We believe that genuine efforts have been made by the organisers this year to overcome the shortcomings and we also want to partner them in this journey positively. In the future, we will see the festival touching newer heights.”
Last year, though the agency did not participate in the Creative Abby, Joshi did attend the ceremony where he was felicitated by the Ad Club.
On McCann’s participation this year, Joshi further adds, “We take immense pride in our creative product and the decision of participation in award shows is collectively taken by our global/local creative councils. We wish GoaFest the very best.”
Nayak’s intent to make the 11th edition of the advertising festival more inclusive was primarily in relation to reinstate the participation of major creative agencies in the country who had long refrained from attending the Creative Abbys. Word had it that ‘cheerful’ Raj, as the Colors CEO is often called courtesy his Twitter handle, had personally reached out to the respective executives and agency heads to hear and address issues that stood in the way of them and Goafest 2016. Therefore, the recent development with McCann definitely comes as a step forward in Nayak’s “inclusive” vision.
Now it remains to be seen whether other creative heavyweights like Ogilvy and Mather, Leo Burnett and Lowe Lintas will also follow suit and brighten up the spirit of the Abby and Goafest 2016 at large with their participation.
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.
