India's third largest IT company, Wipro Technologies has said that it is not going to hike the salary of its executives just because the there is rising pressure from the industry to do so.

The whole issue happened after Infosys announced a salary hike by as much as 14-17 per cent. This has brought about a trend in the IT industry to follow the same path.

The giants as well as the small companies have gone ahead with an aggressive hike in compensation.

This was said by the Chairman of Wipro during the announcement of its quarterly results. He said that he was not bothered as to what Infosys was doing about the salary hike this year.

He said that Infosys announces salary hike in a very short span of time but TCS, the largest company has made the announcement after 24 months.

Wipro has also said that it will go for promotions in the next two months period, which will be in line with the normal appraisal period of the company.

It has reported revenue of Rs. 6,983 crore and a profit of Rs. 1,209 crore.