Financial Daily from THE HINDU group of publications
Saturday, Jan 19, 2002
Financial Daily from THE HINDU group of publications Saturday, Jan 19, 2002 |
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Info-Tech
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Hardware Corporate Results - Hardware Wipro Infotech earnings down; server sales hit Our Bureau
BANGALORE, Jan. 18 THE earnings of Wipro Infotech, which dipped for the second time in a row over the previous quarter, have been affected by the tough times in the hardware industry, Mr Suresh Vaswani, CEO, Wipro Infotech, said. Q3 revenues stood at Rs 154.2 crore, 13 per cent lower than Q2 revenues (Rs 178 crore) which in turn had dipped by 17 per cent from Q1. Wipro Infotech's hardware products business contributes 72 per cent of total revenues (down from 78 per cent last year). The high-end enterprise server business took the biggest hit with software houses curtailing buying these machines. In the last one year, the company has been focussing on services including availability services, facilities management, solutions, software integration. Wipro Infotech is also hoping that hardware sales will pick up in the fourth quarter, traditionally a peak time for hardware buying. 01markets.com, a division of Wipro Infotech and an online exchange which offers reverse auction, made profits this year, Mr Vaswani said. The company is going slow on general recruitment of vanilla skills, the Vice-Chairman, Mr Vivek Paul, said, though it continues to recruit "specialised'' people. Last quarter, a gross 240 new recruitments were made, with a net addition of 92 people.
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