software outsourcing

A blog related to software development company and offshore software outsourcing

Friday, May 20, 2005

Offshore software business growth

The Indian Outsourcing giant Wipro has announced reenue of $378 million for the quarter ending 31st March. This quarter result is 31 percent up over last year. Total net income has also increased to $102 million which is up from $74.3 million last year. Wipro was started in Banglore and currently has head-office in US. Its full year revenue reached $1.87 billion which is a rise of 39% compared to last year and net profit for full year increased to $363 million which is 58% higher compared to last year.

Mr. Azim Premji of said : "Considering the emerging opportunities in the Global market and our unique business model, the future outlook looks as exciting as the journey has been so far." Company also mentioned that, its outlook for the next quarter is positive and revenue will see rise of 5%. Although, company faces some challenges now a days including managing salary bills, higher man power turnover rate and stronger performance of Rupee against dollar. Also, company facing stiff competition in offshore outsourcing market.