No matter how hard the others try, there seems to be no catching up with the
leader. And that leader, Wipro, maintains its top position among listed IT
companies thanks to the sheer size of its revenues, net profit and gross block.
Wipro posted a turnover of Rs 3,054 crore in fiscal 2000-01, its closest
competitor being Infosys Technologies, with Rs 1,901 crore. Apart from the size
of revenues, Wipro stood at the top in net profit and gross block, which stood
at Rs 666 crore and Rs 902 crore, respectively. Wipro is engaged in software
services, hardware and in non-IT areas such as edible oils, soaps and lights,
among others. Its revenues from IT form the major part of the turnover and
profits. In fiscal 2000-01, revenues from the IT segment contributed 85% to the
overall inflow. Wipro’s ROCE declined from 51% to 41%, placing it at the
seventh spot in this comparison. The company raised $113.80 million during the
fiscal through an ADS issue and was listed on the New York Stock Exchange. With
the US tech-led slowdown having an impact on the Indian IT players as well,
Wipro has geared itself up to use its massive cash reserves to acquire companies
and sustain growth.