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Paramita Bannerjee
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Paramita Bannerjee was born and raised in Kolkata, India. She started her stock market career with Kotak Securities and has been the chief contributor to more than 35 corporate and 13 industrial blogs. She specializes in and closely tracks the Technology sector.
My blog:
the technology sector
  • Wipro Q4 Profit Up 7.7 Pct, Meets Forecast 0 comments
    Apr 25, 2012 3:23 AM

    Wipro, India's No. 3 software services exporter, reported a 7.7% rise in quarterly net profit, roughly in line with analysts expectations, as its cost-conscious customers bumped up demand.

    Consolidated net profit rose to Rs 1,481 crore for the fiscal fourth-quarter ended March 31 from Rs 1,375 crore a year earlier for the company, which counts Citigroup Inc and Telenor ASA among its clients.

    Wipro's billionaire Chairman Azim Premji named T.K. Kurien as IT Services CEO, replacing two co-CEOs, last year to reverse the widening gap between the company and its larger rivals Tata Consultancy Services and Infosys .

    Sector leader Tata Consultancy on Monday met estimates with a 23% rise in quarterly net profit, while No. 2 software exporter Infosys dampened investor sentiment with a worse-than-expected revenue growth forecast for the current fiscal year.

    India's USD 100 billion export-driven outsourcing sector faces a challenging year due to growing competition, an uncertain global economy and rising US rhetoric against shipping of jobs to low-cost locations.

    Wipro

    Themes: IT Sector, Wipro
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