Currency volatility impact unlikely: Wipro

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Posted: 2008-09-12 19:42:47+05:30 IST
Updated: Sep 12, 2008 at 1942 hrs IST

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Wipro Ltd, India's third-ranked software services exporter, doesn't see an impact on September quarter earnings due to currency volatility, a senior official said on Friday.

"We don't rely on cross currency volatility to drive our business. We have a strong and conservative hedging policy," Suresh Vaswani, the joint chief executive of Wipro's IT business, told reporters.

"We have given a dollar guidance for the second quarter and our track record is we have always met the guidance."

Shares in India's top software services firms dropped sharply on Friday, led by Infosys Technologies, on worries the dollar's rise against the euro and pound could impact the export-driven firms' revenue growth.

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Currency volatility impact unlikely: Wipro

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