Wipro to concentrate on oil & gas and BFSI sectors

Wipro Infotech is likely to concentrate on oil & gas and BFSI sectors, as slowdown in economy has impacted telecom and government sectors reducing its revenues. It aims to widen its partner ecosystem in West Asia and India markets, as financial services and governments in these regions are showing interest at Anti Money Laundering (AML) solutions. The entity also expects multi-million dollar projects like educational institutes run by King Abdullah of Saudi Arabia.

Wipro, India’s third-largest software services exporter has posted a rise of 1.02% net profit of Rs 1351.30 crore for the fourth quarter of FY 11-12 as compared to Rs 1337.60 crore in the corresponding quarter of FY 10-11. Its total income registered a growth of 19.93% at Rs 8861.50 crore for the quarter under review from Rs 7389.10 crore for the corresponding quarter of the previous year.