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Wipro's Management Presents At Credit Suisse Group Technology Conference (Transcript)

Wipro Limited (WIT)

Credit Suisse Group Technology Conference Call

November 30, 2011 13:00 ET

Executives

Sridhar Ramasubbu – Chief Financial Officer

Analysts

George Mihalos – Credit Suisse

Presentation

George Mihalos – Credit Suisse

Okay. So, I think we are ready to begin. My name is George Mihalos. I am part of the newly hired IT services processing team here at Credit Suisse. And our next presenting company is Wipro being represented by the CFO of International Operations, Mr. Sridhar Ramasubbu who is a long-time Wipro executive. Sridhar, thank you for being here first and foremost. And I think we'll begin with Sridhar giving sort of a quick (Fibernet) update as to Wipro's business and then we'll jump right into the Q&A. So, Sridhar, I will turn it over to you.

Sridhar Ramasubbu – Chief Financial Officer

Thanks. I want to look at the three or four issues, which are on top of peoples' minds. In terms of first, the Q2 performance, it came at the top end of the guidance. We guided about 2% to 4% and we came at 4.6% sequential growth, which has been positive. For Wipro, specifically we had a challenge. We had CEO change in January of this year and the reorganization efforts we communicated to the market that it will take two to three quarters before we sort of get it to a rhythm of continuous growth. So, we have the leadership change, the key leadership changes are in place, the go-to-market single-access is in place. And we have done – we believe that we have done what we need to do and we sort of fixed the supply chain issues which we had and we are looking forward to the coming quarters in terms of how we can realize those benefits of those changes, which here are affected in the reorganization. So, the reorganization has been done is behind us.

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