Wipro CFO says rupee rise a concern

Bangalore: The rise in the Indian rupee is a concern as it creates uncertainty, the chief financial officer of Wipro Ltd., India's third-largest software services exporter, said on Friday.

"It is always a concern ... because it dilutes the certainty that we seek to see in any business," Suresh Senapaty told reporters after Wipro reported a 44 percent rise in quarterly net profit to 8.61 billion rupees ($205 million), beating estimates.

The rupee hit a nine-year high against the dollar this week. Operating margin for Wipro, which counts telecom gear makers Cisco and Nortel among key clients, declined in the January-March quarter because of wage hikes and stock option costs, Senapaty said.

But new customers were coming in at 3 to 5 percent higher rates, he said.