Wipro surprised markets with the resignations of the joint-CEOs of its information technology business, after reporting profit growth rates which lagged rivals Infosys Technologies and Tata Consultancy Services.
India's third-largest software services exporter said company veteran TK Kurien was taking over as the new chief executive of the unit. The company's net profit for the third quarter of fiscal year 2011 grew 3.4% on quarter-on-quarter basis. The number stood at Rs 1,319 crore as against Rs 1,276 crore reported last quarter. Its consolidated revenues too went up to Rs 7,829 crore from Rs 7,731 crore and dollar denominated global IT revenues rose 5.6% to USD 1.34 billion (QoQ). Commenting on the company's performance, the newly appointed CEO of the IT business TK Kurien along with the companyDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
