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Follow UsIn a regulatory filing, Wipro said the total revenues were Rs. 8564 crore ($1.92 billion), an increase of 18 per cent YoY. IT services revenues were Rs. 6405 crore ($1,436 million), an increase of 16 per cent YoY.
Earlier this month, Infosys quarterly profit had missed expectations while Tata Consultancy Services beat estimates. However, both the companies raised concerns about the global economic uncertainty.
After announcing the results, Azim Premji, chairman of Wipro, said the company is seeing early signs of positive momentum after the re-organization.
“Clients continue to focus on optimizing operations, creating new products and getting access to newer markets. We will continue to make investments that bring superior value to our clients as they try to win in this market,” he said.
Suresh Senapaty, executive director and chief financial officer of Wipro, said their investments in client mining are starting to show results, with 4 customers contributing more than $100 million of revenues.
“We have maintained our operating margins in the current quarter despite one month impact of salary revision,” he added.
According to T K Kurien, executive director and chief executive officer, IT Business, “Enterprises are variabalizing their IT to position themselves better for winning in the world of constraints. We are building assets that allow consumerization of enterprise technology and performance analytics, two trends that will help us differentiate.”
Wipro also said for the quarter ending September 30, 2011 it expects revenues from the IT services business to be in the range of $1,436 million to $1,464 million.