Moshe Katri, MD, SG Cowen & Co says Wipro has been bit more acquisitive than some of its peers like Infosys and Tata. "If you look deeper into the numbers, you would see that the dilution impacted margins by 20-30 basis points. But still the operating margin numbers have improved, " he says.
Excluding the impact of acquisitions, there has been a very strong growth and interesting package implementation, he says. He further says better improvement, along with better profitability improvement in Spectramind, the company's BPO operation, has been seen.
Discussing the company's attritution, Katri says, "If you are digging deeper and looking for negatives, you probably are going to focus a bit more on attrition."
Explaining this, he says, "Their attrition numbers did go up during the quarter and there was a gradual uptake in attrition starting in the second quarter of last year, 14 per cent-16 per cent. And then 17 per cent last quarter, which is upto 18 per cent this quarter. So obviously this is something that managements have to focus on down the road."
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