Wipro Ltd., India's third-largest computer-services provider, raised fees to offset higher wages paid to programmers and the rupee's appreciation against the dollar. Its billing rates for new contracts increased between 3 percent and 5 percent.
Still they are winning share from larger rivals, including IBM, by employing Indian workers, who are paid about 12 percent of U.S. salaries.
Wipro added 44 clients in the quarter and will add more clients and employees.
Wipro had an additional forward cover of $195 million at 44 to 45.7 rupees to the dollar.
OK, is that cool enough?
(My skepticism is only so that these successes do not sozzle India's businessmen unto over-confident complacency like flash initial successes on home ground sozzle India’s cricketers, their fans, the media and sponsors.)
[Click here for full story at: BLOOMBERG.COM]
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