Bangalore, April 18: Overcoming the rupee appreciation and U.S economy slow down, IT major Wipro surpassed both guided margin and growth forecast for the year 2007-08, Wipro Chairman Ajim Premji said here on Friday.

Announcing Wipro's performance for the quarter and the year ending March 31, here he said, "results for the year 2007-08 is satisfying on several fronts".

Company recorded a revenue growth of 33 per cent YoY and net profit growth of 12 per cent YoY.

The Company has recorded a revenue or Rs 5700 crores with an YoY growth of 32 per cent netting a profits after tax Rs 880 crores an increase of 3 per cent over the previous year.

The revenue dynamics of the company was was drawn mainly from Financisal solutions which accounts 25 per cent followed by Product engineering services (24%), Retail sector (10%), Telecom services (8%) and energy and lighting (10%). While North America accounts 61 per cent, Europe stood at 31 per cent, Japan and Rest of World forms 6 per cent for the company's revenue.

Stating that the just ended fiscal was also a significant milestone for the company as it had seen a strategic acquisition and investment in sales footprint, MEGA/GAMA accounts strategy, 360 degree engagement model and Large Programs Team.

The company also started local delivery centers in Atlanta (US), Troy, Michigan (US), Monterey (Mexico), Cebu (Philipoines) and Wroclaw (Poland). "Our acquisition of infocrossing has positioned us strongly in Total Outsourcing deals" he said.

Mr Premji also informed that during last quarter Wipro added 29 new clients and out of which two are from fortune 1000 and Global 500 corporation. The company also won a large deal from a leading consumer Electronic Company in US. He also stated that it is a five year engagement which includes application management services covering all applications of the enterprise.

Wipro was also selected by NEC Electroncis for rendering semiconductor design services and establishing a dedicated engineering development center. The Development center will provide front-end and back-end design services and IP to NEC Electronics for Applications Specifid Integrated Circuits (ASICs) and microcontrollers in the Digital Consumer and Automotive areas.

Expressing happy over the performance of Wipro's India, Middle East and Asia Pac IT business which registered a robust growth of 51 per cent YoY and profits growth of 46 per cent YoY, Mr Premji said that "These growth numbers were on the back of strategic investments made in last two years in Total Outsourcing Space".

Stating that India, Middle East and Asia Pac IT business has leveraged the domain and solutioning capability of Global IT Business in several of the large deals Wipro Chairman said,

"Investment in Middle East will increase".

Informing that company will look Fiscal 2009 with cautious optimism on the backdrop of stark changing market situation Mr Premji said that "We have drawn up an aggressive plan to capitalize on the likely back ended positive momentum for a profitable volume growth".