MAM
RIL announces Rs 500 crore contribution to PM CARES Fund
MUMBAI: Reliance Industries Ltd (RIL) announced a donation of Rs 500 crore to PM CARES Fund in response to the call by the prime minister to support the nation’s fight against the Coronavirus onslaught.
RIL also informed that in addition to the financial contribution to the PM’s Fund, the company has also provided contributions of Rs 5 crore each to the governments of Maharashtra and Gujarat to support their fights against the Covid-19.
RIL also continues its 24×7, multi-pronged, on-the-ground effort to do its bit to ensure the nation remains prepared, fed, supplied, safe, connected and motivated to fight and win against the unprecedented challenges brought upon by the Coronavirus pandemic.
RIL has already deployed the strengths of the Reliance Family on this action plan against COVID-19. RIL and its motivated team have stepped up in the cities and villages, on roads and lanes, clinics and hospitals, grocery and retail stores, and it has pressed additional capabilities into the service of the nation.
RIL and Reliance Foundation is leading with a significant effort that encompasses several initiatives. These include:
· Contribution of Rs 500 crore to the PM-CARES Fund
· Contribution of Rs 5 crore to the Chief Minister’s Relief Fund of Maharashtra
· Contribution of Rs 5 crore to the Chief Minister’s Relief Fund of Gujarat
· India’s first 100 bed exclusive Covid-19 Hospital geared up in just two weeks to handle Covid-19 patients
· Fifty lakh free meals in the next 10 days across the nation and scaling up rapidly to more meals and newer areas
· One lakh masks daily for health-workers and caregivers
· Thousands of PPEs daily for health-workers and caregivers
· Free fuel across the country to notified emergency response vehicles
· Jio seamlessly connecting nearly 40 crore individuals and thousands and thousands of organisations daily on its telecom backbone via ‘work from home’, ‘study from home’ and ‘health from home’ initiatives, helping to keep the country going
· Reliance Retail providing Essential supplies daily for millions of Indians via stores and home deliveries
This is RIL’s overall commitment to the nation, in addition to appropriate financial assistance from time to time. The company and its employees will be in the nation’s service daily, as an efficient support machinery for the millions of forces in the frontline – India’s doctors, nurses, health workers and caregivers, government officials, police and peace keeping forces, the transport and essential supply providers and the crores of Indian citizens who are staying at home to contribute to this fight.
RIL particularly records its appreciation for its essential staff across the various divisions, our own heroes, who have effectively formed a second line of defence against the virus, supporting the frontline forces as well as the people fighting from their homes, and being part of the formidable buffer, which keeps the nation’s response effective and ongoing.
RIL remains committed to supporting India’s response to the Covid-19 challenge and will continue to build up its support till the challenge is overcome.
RIL chairman and managing director Mukesh Ambani said, “We are confident that India will conquer the coronavirus crisis sooner rather than later. The entire Reliance Industries Limited team is with the nation in this hour of crisis and will do everything to win this battle against Covid-19.”
Reliance Foundation founder chairperson Nita Ambani said, “As the nation comes together to fight the Covid-19 pandemic, all of us at Reliance Foundation stand in solidarity with our countrymen and women, especially those on the frontlines to whom we pledge our full support. Our doctors and staff have helped set up India’s first Covid-19 Hospital and are committed to supporting the government in exhaustive screening, testing, prevention, and treatment of Covid-19.”
“The need of the hour is also for us to support our marginalized and daily wage communities. Through our meal distribution programme, we aim to feed lakhs of people daily across the country,” Nita Ambani added.
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.
