Wipro CFO says revenue growth to pick up in FY16

In an interview with Malvika Jain, Suresh Senapaty said the company's European business continues to remain under pressure.

Revenue growth for the country's third-largest software services exporter, Wipro , may see an uptick in FY16, outgoing CFO Suresh Senapaty told CNBC-TV18.

In an interview with Malvika Jain, Senapathy said the company's European business continues to remain under pressure – European revenues may also witness cross-currency headwinds. But he added that the Indian market was seeing a turnaround. Among sectors, oil & gas and energy sectors will continue to struggle.

Wipro's revenuegrowth rate has been below the industry rate for the past few years.

Senapaty also commented on the company's CEO hunt, after incumbent TK Kurien five-year term ends early next year, and said a nomination committee would decide on the successor and would consider both internal and external candidates.

On recently-appointed COO Abid Ali Neemuchwala's chances of staking out the top job, Senapathy said he remained "a possible contender".

Wipro stock price

On March 30, 2015, Wipro closed at Rs 623.50, up Rs 11.50, or 1.88 percent. The 52-week high of the share was Rs 676.90 and the 52-week low was Rs 475.35.

The company's trailing 12-month (TTM) EPS was at Rs 34.04 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 18.32. The latest book value of the company is Rs 118.90 per share. At current value, the price-to-book value of the company is 5.24.

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