In the last 5 days, I have reported to my readers about the high performance of Tata Consultancy Services Ltd. (TCS) and Infosys in the last fiscal year (ending on 31 March 2006). Today it was the turn of Wipro to steal the show and the company posted very impressive figures. The growth in revenue and profit was better than expectations and better than the industry average. If you are interested then you can listen to the 1 hour long Conference Call of Wipro that took place a few hours ago by visiting this link. What is interesting for Wipro is that the company did well in Europe. Now 23% of Wipro's total revenue comes from the European market, while USA accounts for 50%. Wipro is also looking for global expansion by opening new offices in Europe and Asia.
The major concern for Wipro right now is not competition from other companies but its high attrition rate. It has one of the highest attrition rates among Indian IT heavyweights.
Azim H Premji, one of the richest men in India is behind Wipro and the company is expected to continue its growth in the current fiscal year too.
Related Articles
Comment Preview