Wipro doesn't see another recession: Azim Premji
By siliconindia   |   Friday, 23 July 2010, 22:59 IST   |    3 Comments
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Wipro doesn't see another recession: Azim Premji
Bangalore: Announcing the quarterly financial result, Wipro chairman Azim Premji today said that the company doesn't see another recession and there are sound indications of discretionary spending. He also indicated that sectors like financial, media, telecom and transport are doing good and also the markets in India, Middle East and APAC are growing, reports ciol.com. "We are seeing strong demand across our industry. We added the highest number of billable employees ever, in this quarter,? he said. The Wipro head added that "We continue to be cost-efficient and get in the market." Girish Paranjpe, Joint Chief Executive Officer of Wipro's IT business, also said that strong demand rise is in pipeline. "There are two types of demand - outsourcing and traditional software engineering," he said. Though Wipro's European revenues slipped marginally during the quarter, Paranjpe expressed confidence that Europe will do good for the company. The attrition rate of Wipro jumped to 15.8 percent during April-June quarter, compared 9.8 percent in the year-ago quarter, and 12.1 percent in the previous quarter. Wipro's Business Process Outsourcing (BPO) services alone accounted for 16 percent of the attrition as against 14 percent a year ago and 17 percent a quarter ago.

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