Wipro Limited on Friday announced its audited results approved by the board of directors for the quarter ended June 30, 2005.
Highlights
Outlook for the Quarter ending September 30, 2005
Azim Premji, chairman of Wipro commenting on the results said, "The strength of our business model and our ability to execute well was once again evident in the robust results of all our businesses.
"Our Global IT business continued to sustain momentum. IT Services component of the business witnessed strong volume growth & improved price realizations during the quarter. Our unique strengths in the technology and enterprise domains coupled with leadership in differentiated services, puts us in a strong position to lead industry growth.
"Looking ahead, for the quarter ending September 2005, we expect our revenue from our global IT services business to be approximately $422 million."
Suresh Senapaty, chief financial officer, said, "Our revenues in global IT business for the quarter were $398.5 million, ahead of our guidance of $395 million. We saw double-digit sequential growth in our finance solutions business.
"Our differentiated services - testing and technology infrastructure services - continued to grow ahead of our overall growth rates, while our enterprise application services bounced back with robust sequential growth.
"In terms of geographies, Europe continues to lead the growth. Operationally, we improved price realisation and offshore mix.
"Operating margins were impacted by increased visa costs, currency appreciation and higher investments in sales and marketing."