Wipro quarterly net profit rises 18%, beats estimates as Azim Premji talks positive
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Both businesses contribute about nine per cent each to its total revenue.
In November, the company had announced demerger of its non-IT businesses like Consumer Care & Lighting into a new company to focus exclusively on information technology.
Premji also welcomed the deferment of GARR and implementation of recommendations of the Rangachary Committee, which has dealt with the tax disputes the industry has been facing.
Wipro Outlook: Demand environment better but unsure about IT budgets, says Wipro
Country's third largest software services provider Wipro today said notwithstanding the improvement in demand scenario, there is still uncertainty over IT budgets for the next fiscal.
"There has been a big change in just the environment itself, it has become a little more positive. That's the good news.
"The bad news is that from our perspective we see two challenges - one is that we see the fiscal cliff talks still continuing and we don't know when finally the budgets would come in and what it would mean in terms of buying in this quarter," Wipro IT Business Executive Director and CEO T K Kurien said.
Wipro registered a 18 per cent jump in net profit and 10 per cent increase in revenues in the October-December 2012 quarter.
The IT services revenue, which accounted for 78 per cent of its revenues, stood at USD 1.577 billion (Rs 8,602 crore) in the reported quarter, meeting its guidance of USD 1.560 billion to USD 1.590 billion for the quarter.
Wipro expects its revenues from IT services business to be in the range of USD 1.585 billion to USD 1.625 billion for the quarter ended March 31, 2013.
"Traditionally Q4 has been a strong quarter for us. The other little bit of concern that we have factored in (in the guidance) is that there are a lot of projects that we won last quarter... when execution will start, when ramp ups will begin? I think that is what we have factored in the guidance," Kurien said.
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