Wipro Technologies, accepted that they have not witnessed any major growth in the last two quarters and that with the new management and leaner organizational structure, the company is looking forward to the better quarter ahead.
In reply to the media during the quarterly announcement for Q3 2010-11, Wipro’s chairman, Azim Premji, said, “I agree that almost two quarters in a row, the company’s performance has been not at par. There is no excuse to the fact that we have underperformed than our potential in this quarter. But we will improve in the Q4 and we are already working towards it.”
According to him, Wipro’s portfolio in specific verticals (esp.healthcare and financial sector) was not ready for the growth, while competition could gain from them. “We expect growth from Eco Energy and Wipro Infrastructure Engineering (WIN). We also expect the testing business to pick up and show positive results,” he added.
Suresh Senapathy, CFO of the company said, we are looking to two markets closely; one is the high velocity emerging market (including India) and high return market (including Western Europe, Germany and France).
Suresh Senapathy, CFO of the company said, we are looking to two markets closely; one is the high velocity emerging market (including India) and high return market (including Western Europe, Germany and France).
He hinted that the company would continue routing their investment toward the financial and health care sector in future as a long-term growth plan.
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