| Wipro doesn't disappoint with annual growth above 40% |
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| | Wipro, India's
third-largest software
services provider,
reported a better than
expected 44% rise in net
profit in its fourth
quarter.
The company’s profits
for fiscal 2007 rose 44%
to $677m on a 41% jump
in revenue to $3.47bn,
as an increase in
billing rates and
improving profits from
recently acquired
companies helped offset | |
| |
| | posted $706m in
revenues, registering
year-on-year growth of
32% and a sequential
growth of 6%.
The company said it
expects revenue to be
about $711m in the first
quarter (April-June) of
2008.
Wipro chairman Azim
H. Premji said: "All our
business segments
contributed to the
strong growth in
revenues and profits | |
|
| | during the 2007
financial year on
account of strategic
acquisitions, expanded
local sales footprint
and deeper domain
skills. Our global
delivery capabilities
have been widened
through centres in
Romania, Brazil and
Portugal."
For the first time,
revenue from its global
IT business crossed the
$3bn mark for the fiscal | |
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| | under review, with
year-on-year growth of
41% to post $3.47bn
under the US GAAP.
In Europe, a key
region of the company's
future growth, Wipro
grew revenues by 38%.
Europe contributes about
25% to the revenues of
the company. The UK
leads the pack with
about 17%.
| |
|
| | salary hikes and the
strengthening rupee.
Against estimates of
$685m for the fourth
quarter, Wipro's IT
business, the company's
flagship division, | |
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