Wipro latest Indian IT supplier to reveal spending trends


Wipro latest Indian IT supplier to reveal spending trends

Karl Flinders

Wipro has announced its sales and profit figures for its final financial quarter of 2011 showing steady growth.

India's third largest IT services firm also announced its results for the full year 2011.

The final quarter of 2011 saw IT services sales reach $1.4bn which was a 4.2% increase on the previous quarter and just over 20% higher than the same period the year before. Profit for the three-month period was 9% higher than the fourth quarter last year at $312m.

For the full year Wipro made $5.2bn in sales, 18.9% higher than the previous year. Profit rose 15% compared to 2010 to £1.18bn.

Wipro had a surge of customer wins with 68 of its 155 new customers for the whole year signed in the final quarter.

IT services accounted for 76% of Wipro's total sales and 93% of its total profit in the year.

Wipro's IT services business now has 14,314 more workers than last year with the total 122,385.

Wipro this year restructured its business into units focused on vertical sectors rather than regional units.

India's other IT services giants in the form of HCL, Infosys and TCS recently announced their results.

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