WEF Davos 2012: Wipro confident of maintaining revenue growth as per guidance

IT major Wipro's chairman Azim Premji today expressed confidence that company would be able to maintain revenue growth as per its guidance for the quarter ending March 2012.

"We have an order book. We have a pipeline. We wouldn't give guidance unless we were very confident on it," Premji said here on the World Economic Forum (WEF) meeting.

While announcing its results last week, Wipro said that revenues from IT services business to be in the range of $1,384-1,411 million, a sequential increase of 3 to 5 per cent  for the fourth quarter ending March 31.      

Premji said that his company has not seen slowdown in its business from Europe.

"Fortunately, we don't do business in Greece, Italy, Spain and Ireland. So far, if those sets of customers are concerned, we are reasonably isolated from them," he said.

On changes taking place within the company, Premji said that Wipro has done a lot in terms of transformation.

"We have put much more horsepower in our sales engine. We have put much more sensitivity to understanding the customer and being proactive with the customer. We are now streamlining our back-end and trying to standardise it as much as possible, at the same time being able to differentiate at the front end," he said.

He said that Wipro will outperform the industry. "We will be very disappointed if we don't. Our assessment is that irrespective of what IMF said the situation in terms of industry leadership confidence and enthusiasm in the US is positive," Premji said.

Wipro reported 9.6 per cent increase in consolidated net profit at Rs 1,318.8 crore and 12 per cent rise in total revenue at Rs 7,829 crore for the third quarter ended December 31, 2010.