Regarding the current economic scenario Premji said: "We are living in tough times; the macro-economic challenges are significant and impacting businesses across segments. However, recessions do not last, resilient companies do.
"Looking ahead, for the quarter ending March 31, 2009, we expect the revenue from our IT Services business including revenues from the acquisition of Citi Technology Services to be approximately $1,045 million."
On a standalone basis, the company reported a net profit of Rs 733 crore (Rs 7.33 billion) for the quarter ended December 31, 2008, whereas the same was at Rs 804.1 crore (Rs 8.04 billion) for the corresponding
quarter a year ago.
Total income on a standalone basis stood at Rs 5,534.2 crore (Rs 55.34 billion) for the December quarter of this fiscal, while the same was at Rs 4,429.6 crore (Rs 44.3 billion) in the year ago period.
Image: Wipro chairman Azim Premji speaks during a business seminar. | Photograph: Vijay Mathur/Reuters
Also read: America's first CTO may be an Indian
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