View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 22, 2009

Wipro numbers confirm challenging offshore climate

Meets expectations, but forecasts revenue slide

By CBR Staff Writer

Wipro Ltd, one of the top three Indian software exporters, beat its market guidance but has produced fourth-quarer revenue from IT services that was almost 5% down sequentially at $1.05 billion.

It has warned it expects further softening into 2009. The company said today it sees revenues sliding in the next quarter to between $1.01 billion and $1.025 billion.

Company chief Girish Paranjpe did offer some hope, saying “It seems like the worse may be behind us.”

Results for the year ended March 31 showed total revenues increased by 29% to $5.00 billion and produced a net income of $677 million, which the company said stood as an increase of 7% over the same period last year. Some $4.3 billion came from IT services.

Wipro now numbers 97,810 employees which includes nearly 23,000 staff deployed in its BPO business.

At the start of the year the company completed the purchase of Citi Technology Services, the India-based captive provider of IT to financial services giant of Citi for $127 million.

Earlier in the year the company also launched an insurance claims analytics service targeted at property and casualty insurance built on the SAP BusinessObjects platform.

Content from our partners
How to engage in SAP monitoring effectively in an era of volatility
How to turn the evidence hackers leave behind against them
Why food manufacturers must pursue greater visibility and agility

It also developed unified communication and collaboration services, which works with Microsoft Office Communications Server 2007 to provide dial-in audio conferencing bridge, persistent group chat and Live Meeting.



Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.