Azim Premji, chairman of Wipro, said: "We believe that the focus we have on strategy and execution has continued to deliver robust results for the company. Our IT services & products business witnessed strong volume growth and operational improvements during our quarter ended September 30, 2006.
"Our differentiated services - technology infrastructure, testing and enterprise application - have grown double digits sequentially. In addition, our financial solutions and technology, media, transportation & services (TMTS) verticals demonstrated excellent traction and delivered superior performance.
"Our Global IT services & products business added 54 new clients during the quarter ended September 2006 - 11 of which were Global 500 or Fortune 1000 clients.
"Our BPO services business also posted strong revenue growth and operating margin improvement reinforcing our confidence that it is moving in the right direction of delivering industry-leading growth rates.
"Looking ahead, for the quarter ending December 2006, we expect revenue from global IT services & products business to be approximately $633 million."
Suresh Senapaty, chief financial officer of Wipro, said: "During our quarter ended September 30, 2006, our global IT services & products revenue was $589 million - ahead of our guidance of $577 million for the quarter. On the margin front, operational improvements and superior BPO services profitability helped us in significantly offsetting the pressure on profitability arising out of wage increases and non-cash charge of restricted stock units issued during the quarter."