Wipro projects $685 mn in fourth quarter from IT

Wednesday, 17 January 2007, 06:00 Hrs
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Bangalore: Riding on the outsourcing boom, Wipro Ltd has projected revenue of $685 million from its global IT services and products division for the fourth quarter (January-March) of this fiscal (2006-07).

In a notification to the stock exchanges here, the company said the revenue from its flagship IT division for the last quarter of FY 2007 had been projected at $685 million on the basis of robust growth achieved in the third quarter (October-December) at $640.5 million. This was against the projected target of $633 million given at the beginning of the quarter.

"We have had another satisfying quarter. Our global IT business delivered good volume growth, primarily driven by robust performance of our energy and utilities vertical, technology infrastructure services and enterprise application services.

"Looking ahead, we expect revenue from our global IT services and products business to be about $685 million for the fourth quarter ending March 2007," Wipro chairperson Azim H. Premji said in a statement.

As a policy, the IT bellwether does not, however, give guidance for the entire fiscal or for its other business divisions.
Source: IANS
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