Wipro CFO highlights growth opportunities in Latin America

- Thursday, November 3, 2011

Wipro CFO highlights growth opportunities in Latin America

Indian IT systems integrator Wipro Technologies (NYSE: WIT) is investing to capture growth opportunities in emerging markets such as Latin America, company CFO Suresh Senapaty told a conference call with investors.

"We are focused on creating strong presence in emerging markets, and Asia and Latin America are expected to yield growth due to significant infrastructure spending," the executive said.

"Asia-Pacific and Latin America continue to remain growth markets for us because they still seem to be going through the investment cycle, so [there is] a lot of opportunity out there," company CEO TK Kurien said.

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Wipro posted global revenues of US$1.85bn in the second quarter of fiscal 2012, ended September 30, an 18% increase compared to fiscal 2Q11. Profits for the quarter reached US$265mn.

In Latin America, the company has offices in Brazil, Argentina and Mexico.

Go to this link to access Wipro's financial results.