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Wipro says volumes healthy, price pressured
April 17, 2003 11:15 IST
Software service giant Wipro Ltd is still seeing pressures on the pricing front, but volumes are growing strongly, vice-chairman Vivek Paul said on Thursday.
"What we are seeing is sustained pressure on pricing," Paul told Reuters in a phone interview after Wipro, India's third-largest software exporter, unveiled fourth-quarter results for the year to March. But in volumes there was "strong, healthy growth," he added.
He said the company got 16 of its 44 software clients in the latest quarter from an acquisition.
Acquisition costs, a firmer rupee and pricing pressures together contributed to lower margins, he said.
Paul said a strong coordination between Wipro's back-office unit, Spectramind, and Wipro Technologies, its global software unit, were resulting in common customer wins. Existing customers were seeking better prices but promising stronger volumes, he said.
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