Telecom Lead India: Media and telecom business
contribution to Wipro revenue in 2011-12 declined to 15.7 percent from 17
percent in 2010-11.
Financial solutions market is the main contributor with
26.9 percent in both fiscals.
Wipro said its IT services revenue was $5.92 billion, up
13.4 percent y-o-y.
Total revenues were $7.37 billion, an increase of 21
percent y-o-y.
Net income was $1.1 billion, up 5 percent y-o-y.
IT services revenue in Q4 was $1.53 billion, an increase
of 9.7 percent.
Total revenues in fourth quarter were $1.94 billion, an
increase of 19 percent.
Net Income in Q4 2011-12 was $291 million), an increase
of 8 percent y-o-y.
Corporations globally are focused on leveraging
technology to drive revenues and productivity. Our strategy is aligned to
deliver value to our customers by partnering with them in this journey,” said
Azim Premji, chairman of Wipro.
The IT Services segment had 135,920 employees as of March
31, 2012, an increase of 13,535 people in the year.
Wipro added 41 new customers for the quarter and 173 new
customers during the year.
Wipro said its investments in building deep domain
knowledge and innovative delivery models to provide predictive outcomes to our
clients have helped garner greater customer mindshare and helped win strategic
deals.
The National University of Singapore, the largest
university in Singapore and one of the most reputed in the APAC region, has
chosen Wipro as a partner for a multi-million dollar IT Infrastructure Services
engagement. This partnership constitutes one of the largest IT outsourcing
engagements by the Singapore Government in the Higher Education sector.
Wipro has signed a multi-year deal with a large financial
institution to provide development and operational support services. The scale
and scope of this project will improve information lifecycle management,
regulatory compliance and enhance data quality. This will help our customer
achieve a leadership position in the market and help integrate acquisitions
faster.
A leading global computing peripherals provider has
selected Wipro to reduce the total cost of ownership of R&D for its legacy
product portfolio. Wipro will be responsible for sustenance and enhancement of
firmware for a large family of devices for the next 5 years.
Wipro has won a multi-year engagement with a leading
communication service provider in North America, to provide technical support
services and in future, enable a set of IT and Operations transformation
initiatives.
Wipro won a large contract facilitated by NABARD to
provide the total solution and implement core banking solutions (CBS) in the
identified State Co-operative Banks and Central Co-operative Banks including
providing the required database, middleware, network, project implementation
and project management. With the help of CBS, the co-operative banks will
facilitate the optimal technology use in rural financial sector.
Wipro’s numbers for 4Q were below our estimates on the
IT revenues and margin front. The guidance of a flattish revenue growth in 1Q
was also disappointing. The management has indicated this is due to some
one-off issues in the India business. We will wait for further developments on
the same,” said Dipen Shah, head of Fundamental Research, Kotak Securities.
