The Hindu Business Line : Wipro Infotech close to $1-b mark

Bangalore, July 19 Wipro Infotech, the India, West Asia and Asia Pacific IT services and products business of Wipro, is within striking distance of a billion dollar revenue this financial year.

Wipro Infotech, which recorded revenues of $650 million in 2006-07, grew by 64 per cent year-on-year in the June quarter to Rs 750.1 crore. The profit before tax grew by 61 per cent year-on-year to Rs 56.7 crore. However, on a sequential basis, the revenues growth declined by around 4 per cent over March quarter.

Seasonally, the June and December quarters were weak quarters for Wipro Infotech, while the September and March quarter are the strongest.

“This quarter was one of the best quarters in the past 7-8 quarters, where we have grown by more than 2.5 times over the market growth,” said Mr Suresh Vaswani, President, Wipro Infotech. The services business contributed 35 per cent to the total revenues during the quarter and grew by 55 per cent year-on-year.

“We expect to sustain the growth momentum in the remaining quarters,” Mr Vaswani said. Wipro Infotech accounted for 18 per cent of Wipro’s total revenues and 8 per cent of the PBIT for June quarter.

Key wins in June include SAP implementation projects from PETRORabigh and SASREF in Saudi. Deals in India include an IT software and managed services contract from the Central Board of Excise and Customs, a deal from the RBI for setting up dealing room operations and an integrated IT solutions contract from SREI for enabling 4900 citizen services centres across West Bengal as part of e-governance initiatives. Wipro Infotech also won deals from Maruti Udyog, Eicher Motors and Toyota Kirloskar.

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