Overall numbers satisfactory, says CEO Kurien
In an interaction with FE, Kurien said it was a satisfactory quarter in terms of the execution of company strategy, before admitting that more needed to be done. “Getting the right set of portfolio of services is critical for us to grow,” he said.
Wipro has found itself slackening in its traditionally strong areas such as product engineering services (PES), BPO and infrastructure management services (IMS). In fact, during the quarter, the PES segment’s sequential growth declined by 6.1% while in BPO and IMS they are not outperforming the market. Kurien admitted that the growth rate in three service lines had shown some lag. “There are some changes in the offing which will put them back on track of hyper growth,” he said.
On the positive side, segments such as infrastructure services, application services recorded healthy growth rates. From a vertical perspective, the healthcare and life sciences, and retail and transportation were able to grow higher than the company’s overall average. The 2.4% sequential growth reported by Wipro’s IT business, though meeting its guidance target, left much to be desired as the volume growth has declined
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