IT majors post less profits owing to Chennai deluge

Software giants such as WIPRO fear lesser profit margins following their working coming to a standstill in Chennai owing to the deluge that has struck the metropolis. WIPRO, which has some 22,000 staff in Chennai, on Wednesday summed up the situation as follows: The recent heavy rains and waterlogging have hit hard the operations in the WIPRO center in Chennai. In the first week of December, not even an hour's work was done. This has affected the earnings. The profit margins in this quarter are going to be greatly affected. Recently, TCS also put out a similar note. The IT major's premises and infrastructure have been badly damaged and hundreds of man hours were lost. Reflecting the situation, WIPRO shares suffered a small dent on Wednesday.