GM bankruptcy: Wipro sees no adverse impact

MUMBAI, INDIA: India's number 3 software services firm Wipro Ltd said on Wednesday accounts receivable from General Motors (GMGMQ.PK) was less than $8 million and does not expect to be hit by the U.S. automaker's bankruptcy filing.

“General Motors accounts for less than 1 per cent of Wipro's IT Services segment revenue, and our assessment is that a substantial portion is expected to continue,” Wipro today informed the Bombay Stock Exchange.

“Based on our current assessment, we do not expect significant adverse impact on account of this development. General Motors is a valued client, and we have a long-standing relationship with them,” Wipro's Company Secretary V.Ramachandran informed the BSE.

The statement also said Wipro was in constant talks with GM to "monitor and assess the situation".