‘We’re more optimistic than four weeks ago’
Wipro chairman Aziz Premji sounded cautious, but looked ahead with confidence as he spoke with reporters after announcing robust results.business Updated: Apr 22, 2009 22:37 IST
The Wipro chairman sounded cautious, but looked ahead with confidence as he spoke with reporters after announcing robust results.
On the impact of the global meltdown
The meltdown has affected our customers across geographies and industries. They want cost takeouts, capital conversation and optimising business processes. We hope this would lead to increased engagements with us.
In these turbulent times, our results have been robust. We had good deal wins and generated robust pipeline. PBIT grew 29 per cent year on year, a considerable achievement in these tough times.
In crises like these come opportunities to refuel and revitalise for the next phase of growth.
Outlook for Wipro for the current fiscal
We are entering un-chartered territory in the global economy and the IT sector. While the environment is challenging, the value proposition of outsourcing in general and off shoring in particular has only strengthened. Our anchor in such times is rooted in providing strong business value to customers. We are confident that we are making the right investments for a bright future.
Overall outlook for the IT industry, with US in the presidency of Barack Obama
Overall, we are feeling more optimistic today than we would have felt four weeks back. We are feeling more optimistic about the market. It is too early to make a call on the European or Japanese markets which are large markets for IT services.
On future growth drivers
We have been incubating new verticals because there’s global market for homeland security. We are one of the pioneers in defence offset and a major player in R & D space (defence). We are putting a thrust on healthcare because we see that unit has more potential going forward particularly with extra investments planned by the administration. We are also looking at segments like domestic oil and natural gas.