Wipro sees better growth in FY15, may not hire commensurately

Tags: News
Wipro, country's third largest IT services provider, today painted an optimistic picture on the growth front in FY'15 but also cautioned that hiring will not be commensurate with the revenue expansion.

"We expect the coming fiscal (FY15) to be better than last one (2013-14). However, hiring will not keep pace with growth," Wipro Executive Director T K Kurien told reporters on the sidelines of the Nasscom Leadership Summit here.

Industry body Nasscom had yesterday said the industry will grow by 13-15 per cent in FY15 to touch USD 97-99 billion mark, up from the 13 per cent expected in the ongoing FY'14. The industry body had marked the US Immigration Bill as a key concern for the next fiscal.

Stating that the growth has picked up on the back of recovery in the US market, Kurien said, "However, the concerns on the US Immigration Bill remains there".

According to a report, the Bangalore-headquartered Wipro employs 145,000 people globally in 98 countries.

The company had posted a net profit of Rs 2,047.90 crore for the quarter ended December 2013, as against the Rs 1,483 crore in the year ago period.

The company's scrip dipped by 0.13 per cent to Rs 562.15 a piece on the BSE today, whose 30-share benchmark rose by 0.42 per cent at the end of trade.


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