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Wipro Management Discusses F3Q 2012 Results - Earnings Call Transcript

The format for today’s earnings call is as follows. Azim Premji, Chairman will give us a overview of Wipro business, TK Kurien, CEO of Wipro IT Business and T.K. will share his perspectives on the IT Business side. Suresh Senapaty, CFO, will comment on the IFRS financial results for the quarter ended December 31, 2011. They have joined by BU heads and other senior members of the Wipro management team who will be happy to answer your questions.

As always, elements of this call and the management’s view may be characterized by forward looking statements under the Private Securities Litigation Reform Act of 1995 and are based on management’s current expectations and are associated with uncertainty and risks, which could cause the actual results to differ materially from those expected. These uncertainties and risk factors have been explained in detail in our filings with Securities and Exchange Commission in the U.S. We do not undertake any obligations to update forward-looking statements to reflect events or circumstances after the date of filing thereof.

The call is scheduled for an hour. The presentation of the 3Q FY ‘12 results will be followed by Q&A. The operator will walk you through the Q&A process. The entire earnings call proceedings are being archived and transcripts will be made available after the call at our company’s website. Replay of today’s earnings call proceedings will also be available via telephone post the call.

During this call, I’m also available on email and through mobile as well to take any questions and turn it to the Wipro team in case you are unable to ask questions for any technical reasons.

Ladies and gentlemen, over to Mr. Azim Premji, Chairman of Wipro.

Azim Premji

Good morning and good evening to you all. Let me talk a little bit about Wipro Limited and Wipro Corporation. We recorded revenues at Wipro Corporation that is for Q3 of INR100 billion, a year-on-year growth of 28%. Net income for the quarter at INR14.6 billion for the year-on-year growth of 10%. IT services business delivered a robust constant currency sequential growth and we continue to build on the momentum by incremental investment in delivery as well as the sales engine. We have seen positive movement both in employee satisfaction as well as customer satisfaction.

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