Wipro, Godrej Consumer Products, Usha Martin

WIPRO Acquisitions and Expansion WIPRO is a leading global IT services company providing a comprehensive range of IT services in the areas of hardware and software design to leading companies worldwide and has a presence in the domestic market for consumer products and lighting. Net profit of the company in 2002-03 dropped by 7.3 per cent to Rs 820.5 crore, despite 25 per cent increase in sales. The global economic downturn, particularly in the US, is having a severe impact on revenues. Economic slowdown has forced most of the companies to either reduce or defer their spending on IT. These apart, an expanding workforce along with increasing wages is eroding its cost-competitiveness and making it difficult to sustain its profitability. The company derives 66 per cent of the total revenue from its global IT services and products business, of which 64 per cent arises from the US alone.