Wipro, India’s third-largest software services exporter, plans to increase hiring in the U.S. and invest in innovation centres amid growing fear of protectionism under the new U.S. President Donald Trump.
“We continue to focus on localisation. We intend to continue hiring locally and invest in delivery and innovation centres in the U.S.,” said Abidali Z. Neemuchwala, CEO and Member of the Board, Wipro.
Fall in net profit
The Bengaluru-based firm on Wednesday said its consolidated net profit fell 5.8% to ₹2,114.8 crore for the quarter ended December 31, 2016, from ₹2,246 crore in the same period a year earlier. Revenues rose 6.2% to ₹13,764.5 crore in the said quarter from ₹12, 951.6 crore in the same period last year.
The revenue from the Azim Premji-led firm’s flagship IT services segment stood at $1902.8 million, a sequential decrease of 0.7% and a rise year-on-year of 3.5%. For the March 2017 quarter, Wipro expected revenues from the IT services business to be between $1,922 million and $1,941 million. Wipro also announced the acquisition of Brazilian IT services provider InfoSERVER for $8.7 million.
