Wipro revenue crosses USD 4.3 billion, growth 43 pc

Bangalore, Apr 18(UNI) Overcoming the rupee appreciation and U.S economy slow down, IT major Wipro surpassed both guided margin and growth forecast for the year 2007-08, Wipro Chairman Ajim Premji said here today.

Announcing Wipro's performance for the quarter and the year ending March 31, here he said, "results for the year 2007-08 is satisfying on several fronts".

Company recorded a revenue growth of 33 per cent YoY and net profit growth of 12 per cent YoY.

The Company has recorded a revenue or Rs 5700 crores with an YoY growth of 32 per cent netting a profits after tax Rs 880 crores an increase of 3 per cent over the previous year.

The revenue dynamics of the company was was drawn mainly from Financisal solutions which accounts 25 per cent followed by Product engineering services (24%), Retail sector (10%), Telecom services (8%) and energy and lighting (10%). While North America accounts 61 per cent, Europe stood at 31 per cent, Japan and Rest of World forms 6 per cent for the company's revenue.

Stating that the just ended fiscal was also a significant milestone for the company as it had seen a strategic acquisition and investment in sales footprint, MEGA/GAMA accounts strategy, 360 degree engagement model and Large Programs Team.

The company also started local delivery centers in Atlanta (US), Troy, Michigan (US), Monterey (Mexico), Cebu (Philipoines) and Wroclaw (Poland). "Our acquisition of infocrossing has positioned us strongly in Total Outsourcing deals" he said.

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