Wipro Q2: Revenue contribution from telecom sector declines

BANGALORE: Bangalore-based information technology company Wipro reported a decline in the percentage of revenue contribution from its telecom vertical. Telecom now makes up 14.4% of the total IT revenue, down from 15.7% a year ago.

For Wipro, the media and telecom sectors contribute about $1 billion (about Rs 5,400 crore) of the total $6 billion revenues of its IT services arm. A large part of the business comes from telecom equipment vendors like Nokia Siemens and Ericsson.

The worldwide telecom equipment market is likely to grow slower at 6.9% this year from 7.2% last year, according to technology research firm Gartner.

In India, Wipro's telecom clients include Vodafone and Aircel. Investments in its deal with Uninor have been on a freeze after the Supreme Court canceled the telecom company's licence.