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Wipro hopes to maintain margins in FY11

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CIOL Bureau
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BANGALORE, INDIA: Indian IT major Wipro Ltd hopes to maintain or improve profit margins in the financial year 2011, its chief financial officer said on Friday.

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Pricing will remain stable in the fiscal year that ends in March 2011, Suresh Senapaty said. He added that Wipro's March quarter margins have also grown 60 basis points despite a firmer rupee and wage hikes.

Earlier in the day, Wipro met expectations with a 21 per cent rise in quarterly profit but gave a outlook that was slightly below street estimates as a stronger rupee is likely to crimp margins and counter the impact of a rebound in demand.

The outsourcer also said that its March quarter pricing in constant currency rose 1.3 per cent offshore and 0.9  onsite.

Pricing in reported currency, after taking into account currency fluctuations, rose 0.2 pct offshore and dropped 0.4 pct onsite, Wipro's investor relations executive Rajendra Shreemal said.

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