The Bangalore-based IT major slipped to #4 in the overall ranking, largely due to the company under-performing vis-à-vis the ranking parameters. While the company retains the top slot in sales, its net profit slipped below that of Infosys. Wipro’s revenues in the year ended March 2003 stood at Rs 4,040.3 crore, up 17% over the previous year. Net profit in the same period declined 3% to Rs 839.5 crore. Wipro is ranked #1 in sales, #2 in profits, #19 in sales growth and #25 in profit growth. Wipro’s gross block too dipped below that of Infosys’ and stood at Rs 1,153.2 crore, up 20% over the previous year. Wipro is ranked #2 in gross block and #26 in gross block growth. Its global IT business—Wipro Technologies—saw a 25% jump in revenues to Rs 2,845.6 crore. Wipro Infotech—the Indian, Middle East and Asia Pacific IT services and products arm—saw a 14% growth in revenues to Rs 839.5 crore, whereas revenues from Spectramind, Wipro’s BPO division, stood at Rs 164.5 crore. The company was aggressive on the acquisitions front and after entering the BPO space with the acquisition of Spectramind, it acquired AMS’ global energy practice. The company’s BPO revenues, at 4% of total revenues currently, are expected to see substantial growth in the future. However, the inorganic growth strategy will ensure that Wipro remains at the top in terms of size.