Markets dull on Wipro as CEO Azim Premji remains gung-ho

Even as the markets estimate that Wipro will lag behind its peers, CEO Azim Premji says that the company has come a long way on the road to restore growth. In fact, Azim Premji expects revenues to grow in double-digits in the coming years. At the company's annual general meeting on Thursday, Premji fielded questions on growth from investors and assured them that the company was on track, reports CNBC-TV18's Shreya Roy.

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Azim Premji's key message to shareholders was about the company’s return to the growth track. Premji’s also believes that the company may even touch growth levels of 15 percent year-on-year in dollar terms in the coming few years. He also emphasised that the company’s growth was assured on the remarkable recovery in the US and the boost in consumer sentiment.
However, the US market is only 50 percent of Wipro’s business. Flat growth in Europe and the slump in the Indian economy have become a source of worry for Wipro. “The company is investing heavily in training and leadership development and also trying to diversify the board of directors with inclusion of women members in the next one year,” he says.
The markets estimate that Wipro’s Q1 results will lag behind that of its peers. According to a CNBC-TV18 poll, sequential growth in dollar revenue will be around 0.18 percent for the IT business and in rupee terms, this could be around 4.5 percent. EBIT margins could see a slight improvement to 20.43 percent versus 20.2 percent in the previous quarter.