MAM
XtraCover announces appointment of Anirudh Singhania as its new chief technology officer
Mumbai: XtraCover, a new-age e-commerce platform catering to the lifecycle management services of smartphones and other electronic devices, has announced the appointment of Anirudh Singhania as its new chief technology officer (CTO) to strengthen the company’s technological prowess.
Singhania has more than 25 years of experience in creating technology solutions, hatching growth strategies and leading high-performing software engineering teams. Prior to joining XtraCover, Anirudh was part of the founding team of Lulu and Sky Private Limited as the Chief Technology Officer. He also built dharma.h Software Technologies. Furthermore, he has worked with multiple tech startups from the stage of ideation to exit.
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On the appointment XtraCover CEO & founder Soumitra Gupta commented, “As we prepare for our next stage of growth at XtraCover, we are thrilled to welcome Anirudh to our executive team. Anirudh’s extensive experience developing technology solutions and leading engineering teams in the IT and e-commerce space make him ideally suited to strengthen the company and drive growth to the XtraCover business.”
In the new CTO role, Singhania will be responsible for integrating and advancing XtraCover’s technology platform. He will drive forward the technical vision for the business in delivering a range of after-sales services to buyers of refurbished electronic gadgets. His expertise in application development, artificial intelligence, machine learning, and digital marketing and strategy will help XtraCover accelerate technological and business growth.
Commenting on his new role at XtraCover, Anirudh Singhania said, “I am extremely excited to contribute to the vision and opportunity to scale at XtraCover. XtraCover has a great culture and I am looking forward to leading and mentoring this team of talented people. My deep technical and leadership experience will enable me to build and execute strategies that propel the business and exceed the needs of our customers.”
Launched in 2019, XtraCover is an e-commerce platform that caters to the lifecycle management services of smartphones and other electronic devices. Operating in the B2C and B2B2C segments, the company offers services such as price discovery and comparison for new appliances, warranty support, refurbished device warranty, accidental damage and protection and repair and refurbishment services, among others. The e-commerce platform aims to create awareness in the Indian ecosystem to make refurbished devices a valued choice, if not the first choice.
Witnessing a paradigm shift in the market growth of refurbished products since the global pandemic, XtraCover has clocked a revenue of over Rs 100 crore in FY 2022. With an aim to continue this growth trajectory, the company intends to surpass the Rs 275 crore target revenue in FY 2023. Additionally, the e-commerce platform plans on increasing its global outreach through export-oriented units (EOU) in India.
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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.
