Wipro eyes more revenue from domestic market

Bangalore, Oct 18 (UNI) Buoyed over the great momentum in the growth of IT and BPO sector, which helped IT major Wipro post a record Rs 3546 crore revenue in the second quarter ending September 30, Company Chairman Azim Premji today said that the company would now like to gain larger foothold in the domestic market.

Speaking to reporters after announcing the Q2 results, he said the strategy would be to build strong growth rate. "Our brand presence will have a big play in our growth," he said.

He said the BPO business had demonstrated consistent improvements in profitability and significant customer wins which including the four major customers added during the second quarter. Revenue from BPO business grew to Rs 52.6 crore during the just ended quarter when compared to Rs 22.8 crore during the same period last year.

Wipro Technologies was recently rated as the top Indian outsourcing firm in the top 100 Global Outsourcing rankings, conducted by IAOP. The list included some of the largest IT companies worldwide and Wipro Technologies, ranked seventh, is the only Indian company in the top ten.

"Apart from IT and BPO sectors, we are making good progress in other products like lighting, switches and computer furniture. To sell these products better we are offering turnkey solutions to our customers from software, hardware to lighting and furniture which has become part of our strategy," he said.

For Wipro, India, Middle East and Asia Pacific IT business had recorded a strong year on year revenue growth of 36 per cent and profit before interst and tax had grown from 57 per cent, expanding the operating margins by 110 basis points on year on year, he said.

Apart from IT, Wipro consumer Care and lighting business also grew excellently with 41 per cent on YoY revenue growth and 26 per cent profit growth. The revenue from Consumer Care and Lighting grew to Rs 202.5 crore compared to Rs 143.7 crore over the corresponding period last year.

Vineet Agarwal, President of Wipro Customer Care division, said Santoor soap continued to be the companies market driver and it wanted to take the brand to the next level. The company had roped in Bollywood stars Saif Ali Khan and Madhavan to promote the products in North and South India respectively. Similarly recently acquired brand Gluvovita and Chandrika soap were also performing well, he added.

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