How is Wipro for women
Wipro Ltd., India's third largest software exporter after TCS and Infosys, increased profits and sales significantly in the second fiscal quarter of 2004/05 (end: September 30th). The Bangalore-based company improved its net profit 67 percent over the same period last year to $ 84 million. Revenue grew 47 percent year-on-year to $ 431 million, also exceeding market expectations. As in the past, the outsourcing division Global IT Services and Products made the largest contribution to sales with 75 percent or 326 million dollars. This corresponds to a year-on-year increase of 45 percent. The division's operating profit rose 90 percent to $ 88 million.
The business unit responsible for India and the Asia-Pacific region increased its revenues by 60 percent year-on-year to 67 million dollars. The division's operating profit increased 72 percent to $ 5 million.
According to Chairman Azim Premji, the good results clearly show that Wipro is gaining market share. You continue to benefit from the investments made in recent years. The company gained 34 new customers in the quarter under review.
In the current second fiscal quarter, Wipro expects the outsourcing division to increase its revenues to almost $ 347 million. At the same time, the Indians pointed out that the operating margin will decline. The reasons given were the rising salaries as well as the increasing cost pressure and the increasingly subdued mood in the market. (mb)
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