Wipro Business Outlook

Wipro Ltd has announced the following Outlook for the Quarter ending March 31, 2008:

Azim Premji, Chairman of the Company, commenting on the results said -

"The results for the quarter are satisfying. We continue to see good momentum in all our businesses. Revenues from our Global IT Services at $ 910.1 million for the quarter, were ahead of our guidance of $ 905 million. Our Financial Services business grew nearly double digit sequentially during the quarter despite this being challenging times for the sector. We had strong growth in our BPO business and Testing Services. We also had our Retail and Healthcare Verticals growing ahead of our Company growth rate. Our top 10 customers grew at a healthy rate during the quarter and we won a good set of new clients. On the operational front we have seen a 200 basis points increase sequentially in the mix of
our Revenues from Fixed Price Projects. Our price realization improved during the quarter by about 50 basis points sequentially.

Our India, Middle East and Asia Pacific IT business won a large Total Outsourcing deal in the Telecom sector which is representative of the increasing size of deals in the Indian market and of our abilities to offer transformational Solutions to customers. This win clearly indicates the leadership position we enjoy in this segment.

Looking ahead, for the quarter ending March 2008, we expect our Revenue from our Global IT
Services business to be approximately $955 million."

Suresh Senapaty, Chief Financial Officer of the Company, said –

"During the quarter ended December 2007, improved realizations and rationalization of bulge mix helped us fully mitigate the pressure on profitability on account of foreign exchange impact. The drop in our Global IT margins by 100 bps sequentially was primarily on account of our Infocrossing acquisition. We have seen an increase in the number of $ 50 Mn clients and now have our first $ 100 Mn client".