Wipro, country’s third-largest IT services exporter, is planning to ramp up operations in its largest market, the US, by creating more local jobs and hiring Americans for strategic roles. This move has been taken on account of slowing US economy and immigration issues.
For Q1FY14, Wipro generated 49.7% of its revenue from the US market, lower than its peers like TCS and Infosys. During the same period, TCS got 54.1% of its revenue from the US while it was 61.4% for Infosys. With this gap, Wipro now plans to hire senior leaders from other companies or industries to strengthen its management capability in the US.
The company has reported 20.79% rise in its net profit at Rs 1306 crore for the first quarter of the current fiscal as compared to Rs 1081.20 crore for the same quarter in the previous year. Total income of the company has increased by 9.22% at Rs 8862.60 crore for quarter under review as compared to Rs 8114.40 crore for the quarter ended June 30, 2012.
On the consolidated basis, the group registered a rise of 2.73% in its net profit after taxes, minority interest at Rs 1623.30 crore for the quarter as compared to Rs 1580.20 crore for the same quarter in the previous year. Total income of the company, on consolidated basis, has increased by 6.11% at Rs 10069.30 crore for quarter under review as compared to Rs 9488.90 crore for the quarter ended June 30, 2012.
| Company Name | CMP |
|---|---|
| TCS | 2591.30 |
| Infosys | 1318.90 |
| HCL Tech. | 1437.85 |
| Wipro | 203.15 |
| Tech Mahindra | 1521.30 |
| View more.. | |
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