Wipro guides up to 2% growth despite tough mkt situation

Here is a verbatim transcript of the exclusive interview with Girish Paranjpe and Suresh Vaswani on CNBC-TV18. Also watch the accompanying video.

Q: Take us through whether there have been any significant discrepancies in the numbers because of the move from US generally accepted accounting principles (GAAP) to international financial reporting system (IFRS). Does that account for any part of the growth number that you have talked about?  

Paranjpe: There is much more alignment between India gap and IFRS, so that has been much easier for us to do. Between US GAAP and IFRS of course there is a gap which we have explained but for us reporting results under IFRS has been pretty smooth.  

Q: Could you take us through what the volume growth picture has been in this quarter compared to last quarter, except of Citi Technology Services Ltd (CITOS), if you just take Citos which has contributed somewhat would volumes have been flat between quarters?

Paranjpe: Even Citos was there last quarter as well, we have to compare like with like; so we have to include Citos for last quarter and this quarter. On that basis it's a volume decline of 1.3% roughly for this quarter but overall our headcount add is positive. It's almost more than 700 people that we have had in the quarter.

Q: Pricing continues to be sluggish, particularly on the off shore in the current quarter, there has been some decline?

Paranjpe: That is because of some of the flow through that came out because of some of the negotiations that we were having in the past with clients that flew through in this quarter and we have had some impact of that but overall our onsite price is steady and barring some things which may struggle on some negotiations, most of them of price negotiations seems to have been done but you can never rule out deal to deal negotiations which take place.

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