Company not to revise earnings guidance.
Bangalore-based Wipro Technologies said the company was not witnessing any impact on its business due to the Greek debt crisis, and hence would not revise its earnings guidance. The ongoing Greek debt crisis has sent panic waves across national economies.
“The ongoing debt crisis has no impact on our business and we are not giving any revised guidance for our earnings,” Azim Premji, chairman of Wipro, said on the sidelines of a Federation of Indian Chambers of Commerce and Industry (Ficci) event here.
Greek economy, which accounts for 2.5 per cent of Eurozone’s GDP and 0.2- 0.3 per cent of world GDP, is facing sovereign debt crisis. Though Greece's economy is small in size with less exposure to many markets, the debt crisis has the potential of dragging down other European economies.
However, Indian policy makers have denied the impact of this crisis on the economy. Finance minister Pranab Mukherjee on Thursday said the Greek crisis would have minimal impact on the Indian economy as exports to Greece, Spain, Portugal and Italy constitute about four per cent of the country's total exports.
