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Business Q3 Results Of Wipro Herald Revival Of Outsourcing Services In IT Sector
Business Q3 Results Of Wipro Herald Revival Of Outsourcing Services In IT Sector
Q3 Results Of Wipro Herald Revival Of Outsourcing Services In IT Sector |
| Thursday, 21 January 2010 19:01 |
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This was disclosed by directors of the company here on Wednesday. Wipro Limited registered a twenty one percent year-on-year growth and a profit of rupees 1,217 crore for the third quarter of the current fiscal year 2009-10. India's No. 3 software services exporter followed bigger rivals like Tata Consultancy Services and Infosys Technologies in reporting a pick up, boosting investor confidence of a solid recovery from the global financial crisis. Wipro added 4,855 employees, or about five percent, during the December quarter, its biggest pace of staff addition in more than two years. Chief Financial Officer Suresh Senapaty said the deal was looking good and the company expected stable or slightly higher fees in the coming quarters, which would help it maintain margins despite wage hikes and a firmer rupee. Wipro board members announced that are expecting their business to be in the range of 1,161 million dollars to 1,183 dollars. "We are looking forward to the guidance of 1,161 to 1,183 million, which is 3 to 5 percent sequential growth in dollars for the global IT service business," said Senapaty He added that they are constantly in negotiations for large deals, which giving them a little bit of optimism. Girish Paranjpe, Executive Director and Joint Chief Executive Officer of Wipro Limited noted that the company expects the budgets to be flat to marginally positive this year. "Unlike last year, where people were in a wait and watch mode and not spending money till much later in the year, this time around, it seems that the people are ready to go right from the beginning. So we hopefully will have a uniform growth throughout the year, instead of a backend and lumpy growth like we saw in 2009," Paranjpe added. Wipro expects its IT services revenue to rise 3.6-5.4 percent in January-March from the preceding quarter to 1.16 dollars-1.18 billion dollars, after it posted a 4.9 percent sequential rise in the latest quarter. (ANI) Add this page to your favorite Social Bookmarking websites           |
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