Indian outsourcing company, Wipro, has reported net income of $US363 million for the fiscal year to March 31, a jump of 58 per cent. Revenue also climbed by 39 per cent to $US1.87 billion.
India's third-largest outsourcing provider, Wipro has domestic and export businesses. The export business - comprised mainly of outsourcing contracts with customers in the US, Japan and Europe - accounted for 75 per cent of revenue for the year.
However, like other Indian outsourcers, Wipro faces challenges including the appreciation of the Indian rupee, which has been underway for several months, and growing salaries demanded by staff in India.
Employee attrition rates have also been high, reaching 23 per cent in the quarter. It has integrated the BPO services business it acquired in 2003 with its IT services for vertical markets.
Wipro was able to use its client base in IT services to bag BPO contracts as well.
India's two largest outsourcers - Tata Consultancy Services in Mumbai, and Infosys Technologies in Bangalore - also posted robust results for the fiscal year to March.