Wipro's fourth quarter (January-March) consolidated profit jumped 3.6 percent to Rs 2,272 crore and revenue increased by 0.7 percent to Rs 12,171.4 crore compared to December quarter.
However, the country's third largest software services exporter missed street expectations on IT services revenues front that declined 1.2 percent sequentially to USD 1.77 billion in the quarter ended March 2015. The management has given guidance for Q1 IT services sales growth between negative 0.5 percent and positive 1 percent.
The company is hopeful of maintaining margins on operational improvements and productivity enhancements. The management, in a press conference, said the momentum is picking up in infrastructure and product engineering.
Wipro is also focused on driving innovation and will continue to invest in talent development, said CEO TK Kurien. However, the management also highlighted that the company is witnessing slowdown in Banking, Financial services and Insurance (BFSI) spending.
The IT major’s healthcare and manufacturing segments continue to see robust growth. Wipro has added 65 new customers which is higher than normal run rate, added the management at its headquarters in Bengaluru.
Wipro also announced the appointment of Rishad Azim Premji as the whole-time director with effect from May 1
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