The third largest technology company in India, Wipro Technologies, has reported a healthy 22% growth in profits in the September 2009 versus a year ago figure, primarily due to better margins on existing orders. The company is also sounding confident of preforming better in the next few quarters, as there are more recovery signs in US and Europe.
Indian IT companies have been the star performers in the IT category across the globe for the last decade or more, only because they have a large pool of intelligent people working at a fraction of the labor cost in US and Europe.
Wipro reports 22% increase in profits