Wipro Ltd, the third largest software exporter of India, has missed the sales estimates set by analysts. And as a reaction to that it has replaced the o-heads of the computer-services business. It is the main business of company now.

The Bangalore-based company announced its third quarter figure and the revenue has gone up by 12 per cent to be at Rs. 78.3 billion. But it missed the target set by 47 analysts. They had predicted the amount to be Rs. 80.5 billion.

Profit, however, was in line with the estimates and stood at Rs. 13.2 billion, a rise of 10 per cent.

Because of this, Wipro followed the same route as Infosys and the shares went down by 2.4 per cent. The two company can be considered as an indication that recovery in the developed market is not as strong as thought to be. Debt condition of Europe is the biggest concern as of now.

Suresh Senapaty, CFO said that the margins in the main IT divisions were flat during the quarter. Experts say that it has happened since Wipro has not seen growth. It is doing well, they say, but is not as good as its rivals.