Wipro Ltd.

Wipro, the country’s third-largest software firm, has seen its business declining by 3.4% in Europe during the fourth and final quarter of fiscal year 2012-13. The software major got about 28% of its overall revenues from Europe during the January-March quarter.

Wipro’s business grew 1% during the same period from US which is considered to be the largest market for the company contributing over 50% of the firm’s total sales. The company’s revenues from India and Middle East grew 8%, while Asia Pacific and other markets reported a 2.8% growth during the three months to March 31.

Indian IT firms are facing business challenge from US and Europe over the past few years as client firms in these geographies cut down on their technology spending due to a weak macroeconomic environment.