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/ India News / 2009 / July 2009 / July 22, 2009 |
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Wipro chairman Azim Premji said on Wednesday that they are adapting successfully to the global meltdown.
Bangalore, July 22: Wipro chairman Azim Premji said on Wednesday that they are adapting successfully to the global meltdown.
Wipro, India's third-largest software services exporter, registered 13 percent rise in quarterly profit.
Wipro, which offers IT solutions such as system integration, software application development and manages call centres, predicted that its revenue from would grow to between 1.035 billion dollars and 1.053 billion dollars in the September quarter, barely ahead of its June quarter revenue at 1.03 billion dollars.
The company posted its third consecutive quarter-on-quarter decline in IT services revenue due to the challenging business environment.
"While the results were satisfying, it is important to appreciate that the world around us has changed and it has changed drastically. What we are now experiencing is a fundamental reset of the economy and the fundamental reset of the financial systems and the return will be to a new reality, not the old reality. As an organisation, we continue to adapt ourselves to the new reality and we think we are doing it very successfully," said Premji.
Wipro's earnings follow results from biggest IT services firm Tata Consultancy Services and Infosys Technologies, both of which posted above-forecast profit growth that helped dispel some gloom surrounding the 60 billion dollar software and services sector.
ANI
