The Hindu Business Line : Product biz boosts Wipro Infotech revenues

Bangalore, Oct 19 A ninety per cent growth in its product business spurred Wipro Infotech, the India, West Asia and Asia Pacific business of Wipro Ltd, to clock a 72 per cent year-on-year growth in revenues for the quarter-ended September 2007.

Wipro Infotech recorded revenues of Rs 931.2 crore compared with Rs 542.6 crore in the corresponding quarter last year. Profit before interest and tax for Wipro Infotech grew 48 per cent to Rs 69.1 crore (Rs 46.8 crore). Wipro Infotech accounted for 19 per cent of Wipro’s total revenues.

“Our revenues have grown at three times the market growth rate in the first half of the year driven by comprehensive services portfolio,” said Mr Suresh Vaswani, President, Wipro Infotech. “Our pipeline for large outsourcing and integrated deals is very healthy across India and West Asia,” he said.

The services business accounted for 32 per cent of total revenues during the second quarter, while products accounted for the rest. Key wins included SAP implementation project at ITC, an e-commerce platform creation for Future E-Commerce Infrastructure Ltd, PeopleSoft HRMS implementation at J&K Bank, infrastructure integration projects for BSNL, Indian Overseas Bank and Bhilai Steel Plant.

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