Wipro’s Europe business falls 3.4%

BANGALORE: India’s third-largest software firm Wipro said its business from Europe declined 3.4% during the fourth and final quarter of fiscal year 2013-13.

The Bangalore-based company got about 28% of its overall revenues from Europe during the January-March quarter. Business from the Americas, Wipro’s largest market, grew 1% during the period contributing over 50% of the firm’s total sales.

Wipro’s revenues from India and Middle East grew 8%, while Asia Pacific and other markets reported a 2.8% growth during the three months to March 31.

On Friday, Wipro said its revenues during the March quarter grew 0.5% in dollar terms compared with its own guidance of 1% to 3% growth.

Business from the Americas and Europe have been a challenge for Indian IT firms over the past few years as client firms in these geographies cut down on their technology spending due to a weak macroeconomic environment.

“We continue to see improvement in our customer satisfaction and employee engagement. Our continued investments in the go-to-market organisation positions us well for the future,” TK Kurien, chief executive officer of IT business at Wipro.

On Wednesday, Noida-based IT firm HCL Technologies said its business from Europe had grown 6.3% during the quarter, while Wipro’s crosstown rival Infosys last week said its Europe revenues grew 5.7%.