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Wipro Management Discusses F3Q 2012 Results - Earnings Call Transcript

A little bit about the macro environment, there is a lot of uncertainty in the overall macroeconomic environment, particularly in Europe with signs of growth returning in U.S. with unemployment levels getting solved. In our view customers are prepared for slow growth in the Western world and IT strategies are designed keeping this variable at very much in mind. There is an increase focus on emerging markets, which is leading to superior growth for us. We’ve continue to see a lot more stability and clarity in customer organizations compared to dual rate. Organizations are focused on adopting the business module to meet the changing growth outlook in the business both on the revenue side as well as on the cost side.

A little bit about Wipro Consumer Care and Lighting, in Consumer Care and Lighting business, we have seen very strong growth of 26% year-on-year for quarter 3. Business has shown consistent growth upwards of 20% year-on-year throughout the year. Santoor continues to grow well through a healthy mix of both volumes and value led growths. We continue to see all around growth across product segments.

Unza business, which represents our Middle East and represents our Fareast business, continues to do well and growth was driven by China, by Indonesia, Vietnam and Malaysia. Wipro infrastructure engineering, despite market softness, we continue to see growth in India. We’re beginning to see Europe customer’s sentiment reflects in boards order intake in some segments.

Continuing our vision to expand the hydraulic portfolio, we formerly signed a JV agreement with Kawasaki Precision Machines Limited in December. The JV will focus on manufacturing of hydraulic pumps, which is considered the heart of the cylinder. Kawasaki brings in technology and Wipro brings in the local relationship with OEMs, and extremely strong market presence.

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