Financial Daily from THE HINDU group of publications
Thursday, Apr 20, 2006
Financial Daily from THE HINDU group of publications Thursday, Apr 20, 2006 |
|
|
|
|
|
|
|
Info-Tech
-
Outlook Margins to stay range-bound: CFO Our Bureau
Bangalore, April 19 Wipro expects margins to stay range-bound in the current fiscal in a stable pricing environment. "The overall environment looks very robust in terms of IT spending ... and the business momentum is good," said Mr Suresh Senapaty, CFO. New customers are coming in at a reasonably better pricing this quarter, he added. Further, Mr Senapaty said, margins had regained during the fourth quarter at 22 per cent after the initial blip. "Now we are looking at stability. In the short term to medium term, margins will be in a narrow range." Wipro effected salary hike of three per cent to its onsite employees in January this year. To a query, Mr Premji said that he expected salary hikes to be in the range of 12-13 per cent. Wipro's capital expenditure for the current fiscal would be substantially higher than Rs 500 crore spent last year, as the company expects to invest in expanding its infrastructure by enhancing its development centres in India and overseas. Without quantifying the absolute sum earmarked for capex, Mr Senapaty said: "It would be fairly large compared to last year." Wipro has taken a forward cover to the tune of $600 million, according to Mr Senapaty. This is over and above the receivables as on March 31, 2006, he added. The bulk of the cover is in dollar-denominated currencies, while the company has also taken a small cover in pound and euro-denominated earnings, he said.
More Stories on : Outlook | Software | Wipro Ltd
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|