Wipro records 45 per cent growth in Revenues

Bangalore, Jan 17: Recording another robust performance Wipro Limited today announced 45 per cent year on year growth in its revenue for the third quarter of the current fiscal at Rs,3979 crore with profits surging by 41 per cent at Rs.765 crore.

Commenting on the performance wipro Chairman Azim Premji said ''We have had another satisfying quarter. Our global IT business delivered good volume growth primarily driven by robust performance of our Energy and Utilities Vertical, Technology Infrastructure Services and Enterprise Application Services.

He added ''Continuing their good momentum, our Financial Services and Retail businesses delivered more than 50 per cent YOY growth.

Manufacturing Vertical and Europe geography posted growth-rates ahead of the Company average''.

On the operations front he said Wipro had brought down the attrition rates in both the IT and BPO businesses.

On the outlook for the last quarter he said '' we expect Revenue from our Global IT Services and Products business to be pproximately us dollars 685 million''.

Wipro Chief Financial Officer Suresh Senapaty said ''During the quarter ended December 2006, our Global IT Services and Products Revenue was us dollar 640.5 million, which was ahead of our guidance of us dollar 633 million (BPO) Services. He said we had 66,176 employees as of December 31, 2006, which includes 49,313 employees in our IT Services and Products business and 16,863 employees in our BPO Services business. The net addition in our IT Services and Products business was 3,489 employees and 1,508 employees in our BPO Services business.

Mr Senapathy said the Global IT Services and Products business added 37 new clients during the quarter, of which eight were Global 500 or Fortune 1000 companies, comprised of 13 new Technology clients and 24 new Enterprise clients.

Global IT Services and Products accounted for 72 per cent of the total Revenue and 88% of the PBIT for the quarter ended December 31, 2006.

UNI