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To: StanX Long who wrote (62907)	4/18/2002 2:06:29 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Wipro's 4th-Qtr Profit Probably Rose at Slowest Ever (Update2) By Arijit Ghosh quote.bloomberg.com Bangalore, April 18 (Bloomberg) -- Wipro Ltd.'s profit probably rose at its slowest pace ever in the fourth quarter after India's biggest software developer by market value cut prices to win orders from customers such as Lucent Technologies Inc. Net income according to Indian accounting rules may have risen 7 percent to 2.32 billion rupees ($47 million) in the three months ended March 31, from 2.15 billion rupees a year ago, the average estimate of 10 analysts surveyed by Bloomberg News showed. Sales probably rose 3 percent to 9.67 billion rupees. Wipro's earnings surged an average of 83 percent in the eight quarters before the January to March period on the strength of spending on software by companies eager to track inventories and sales more effectively. With customers now trimming jobs and product lines to cut costs, investors are focusing on how the New York Stock Exchange-listed company is coping with the slowdown. ``We will be looking to see if these (Indian software) companies can grow at between 30 percent to 35 percent to justify the valuations,'' said Chandresh Nigam, who helps manage 23 billion rupees in assets at Zurich India Asset Management. ``We will be looking for new client additions and to see if they won large business.'' Wipro, which transformed itself into India's biggest publicly traded software developer from a maker of vegetable oil, baby soaps and electric bulbs, is expected to announce fourth-quarter earnings tomorrow at about 9 a.m. local time in the southern city of Bangalore.