Wipro has announced the appointment of Ulrich Meister as senior vice-president and head of Continental Europe, effective November. Ulrich joins Wipro from T-Systems, where he started in 2005, and in his last role was responsible for their global Euro 2 billion system integration business. According to a release, Ulrich would have the charter to define strategy for each of the markets within Continental Europe and grow the business exponentially over the coming years. He will continue to build on Wipros localisation approach, drive marketing and brand investments in the geographies, and explore potential inorganic growth opportunities. Ulrich Meister will be based in Frankfurt, Germany and will report to TK Kurien, CEO, Wipro. Continental Europe currently represents a significant share of our global revenues and companies in the region are more keen to consider global sourcing than ever before. We have already enhanced our focus on key markets like Germany, France and the Nordic region - driving customer centricity and local decision making. We are encouraged by the prospects and are confident that Ulrich in his new role will lead Wipros next wave of growth in these geographies, said Kurien.
Videocon Industries net up 32.50% at R20.18 cr
Videocon Industries on Friday reported an increase of 32.50% in its standalone net profit at R20.18 crore for the quarter ended September. The company had posted a standalone net profit of R15.23 crore in the corresponding quarter last fiscal, Videocon Industries said in a filing with the BSE. The companys net standalone sales also increased to R3,176.20 crore in the July-September 2013 quarter, compared with R3,015.52 crore in the same period a year ago.
Zylog Systems Q2 net loss at R91.63 crore
IT firm Zylog Systems has reported a consolidated net loss at R91.63 crore for the second quarter ended September. The company had reported net profit at R21.48 crore registered in the corresponding period of previous year. For the six month period ended September, the net loss of the company stood at R124.15 crore, against R77.41 crore registered during the same period of previous year. For the year ended March 2013 the net profit stood at R115.32 crore.
M&M gets government order for 630 vehicles
Mahindra & Mahindra on Friday said it has received an order from the Indian government for a fleet of 630 vehicles, which it intends to gift to its Nepalese counterpart. These (vehicles) would be purchased by the government of India for gifting