Wipro Soars on Outsourcing

Outsourcing and offshoring by vendors and carriers helps IT services firm record bumper profits

April 16, 2004

1 Min Read
Wipro Soars on Outsourcing

Systems integration and outsourcing services firm Wipro Ltd. (NYSE: WIT) is raking in the bucks as more telecom companies move jobs overseas (see Wipro Records Profit).

There are some who doubt the wisdom of sending jobs overseas, but companies such as Wipro, and its main rivals in India, Tata Consultancy Services and Infosys Technologies Ltd., are clearly profiting from the practice.

Wipro, which counts Cisco Systems Inc. (Nasdaq: CSCO) and Nortel Networks Corp. (NYSE/Toronto: NT) and numerous operators among its customers, increased its earnings per share for the year ended March 31 by 23 percent to 43.2 rupees (about US$1.00).

Get the details at Boardwatch.

— Ray Le Maistre, International Editor, Boardwatch

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