In an interview with Poornima Murli, Suresh Senapaty said the company‘s European business continues to remain under pressure.
In an interview to CNBC-TV18, Thakur says he expect the coming financial year to better than the current one as the US market is recovering
Wipro‘s outgoing CFO Suresh Senapathy spoke to CNBC-TV18‘s Manasvi Ghelani on the application for bank licences and the challenges he faced.
Wipro‘s third quarter profit (from IT services and products business) jumped 5 percent sequentially to Rs 2,203.1 crore. The company‘s IT services revenue rose 3.9 percent to Rs 11,344 crore in October-December quarter and dollar revenues increased 1.3 percent to USD 1.795 billion on sequential basis, beating street expectations.
Software services firm Wipro's second quarter (July-September) net profit declined nearly 1 percent sequentially (up 8 percent year-on-year) to Rs 2,098.3 crore dented by higher tax and finance expenses, and reconciling items. Profit in the previous quarter was Rs 2,118 crore.
The company‘s consolidated profit after tax climbed 4.27 percent sequentially to Rs 2,014.7 crore and revenues grew 3 percent to Rs 11,327.4 crore for the quarter ended December 2013.
In an interview to CNBC-TV18, Som Mittal, President, NASSCOM spoke about IT sector growth trajectory.
N Chandrasekaran, MD and CEO of TCS said that the pricing remained stable currently and that the company was aiming an operating profit margin of 26-28 percent.
Som Mittal, President, NASSCOM believes that since the macro economic factors have not changed much since their February forecast, they would not be reviewing the forecast at present.
Given the fact that the first quarter of the financial year is traditionally a weak quarter for Wipro's Indian business, one should not read too much into the guidance, says chief executive officer TK Kurien.
Yogesh Radke, Head-Quantative Research, Edelweiss Securities, Edelweiss, believes that in the Wipro demerger announcement, converting back its shares into the Wipro Ltd. is the best option.
Cognizant continues to be bullish on the path ahead with better-than-expected fourth quarter revenue to its credit. R Chandrasekaran, group chief executive officer (tech & operations) of the company is positive on the demand environment.
Software services provider Wipro, which reported better-than-expected earnings for the third quarter on Friday, says there is significant positive change in demand ennvironment going ahead, but volumes in fixed price contracts are expected to decline.
Out performing some of biggest names in IT, Tata Consultancy Services (TCS) has emerged as the poster boy in the country. N Chandrasekaran, CEO, TCS, has been credited for transforming TCS – India‘s largest IT services company into an even bigger juggernaut.
Som Mittal, president, NASSCOM says he expects IT sector growth in double digits. "We had given a guidance that we will have a growth of 11-14 percent this year. Our review, after six months, is that we will still be in double digits. We will still be in double digits and probably closer to the lower end of our guidance, 11 percent," he adds.
In an interview to CNBC-TV18, Wipro's management, executive director and chief financial officer Suresh Senapaty, chief executive officer-IT biz and executive director TK Kurien, executive VP-HD Pratik Kumar, speak about the results and give their outlook going forward.
Breaking up the earnings results for CNBC-TV18, Vineet Agrawal, president-cons care & lighting at Wipro Consumer says the company has witnessed a robust growth of around 30% across categories.
Wipro Ltd, India's No. 3 software services exporter, reported an 18% rise in quarterly net profit, meeting expectations, as customers outsourced more work to the company to cut their operational expenses.
Sudin Apte of Offshore Insights and Partha Iyengar of Gartner discuss, on CNBC-TV18, the change of guard in the IT sector in the backdrop of Infosys declaring results today.
In an interview to CNBC-TV18, Vineet Agrawal, president-consumer care & lighting, Wipro says, the year has gone well for the company largely because ‘Santoor‘ has done well. "We would like to outperform the industry growth going forward," he adds.
India's third largest software services provider Wipro disappointed the street with a muted guidance for the first quarter. However, the company endeavors to grow higher than the industry average in fiscal 2013, its CEO TK Kurien said on Wednesday.
Azim H Premji, Chairman and Managing director of Wipro believes that Europe is plagued by uncertainty and slowdown in growth.
In an interview to CNBC-TV18, Vineet Agrawal, president--consumer care & lighting, Wipro says, all businesses have done well. “Going forward, we expect that we should be able to outperform the industry,” he adds.
Wipro said it expects USD 1.52 billion to USD 1.55 billion revenue from its IT services unit, which contributes three-quarters of its total sales, in the March quarter, a sequential rise of nearly 1% to 3%.
A jubilant Wipro is gaining fast on the bourses today after it posted a better-than-expected second quarter earnings today. The software service provider company has managed to improve it volume growth at a time when the world economy is grappling with various crisis and downgrades.