Wipro Q1 Net up 12% YoY; adds 26 new clients

Last Updated: Wednesday, July 22, 2009 - 11:19

Mumbai: Software major Wipro on Wednesday reported
11.86 percent increase in consolidated net profit at Rs
1,015.50 crore for the first quarter ended June 30, 2009.

The IT firm had a net profit of Rs 907.80 crore in the
June quarter of previous fiscal, Wipro said in a filing to the
Bombay Stock Exchange.

Income from sales rose to Rs 6,289.10 crore in the June
quarter, up 4.80 percent from Rs 6,001.30 crore in the same
period previous fiscal.

The IT services business added 26 new clients during the
quarter, the company said.

"We are starting to see the first signs of stability in
the business as ramp downs start to taper off and volumes
start to stabilize," Wipro Chairman Azim Premji said.

The company`s revenue from IT Services declined 3.3 percent on an year-on-year basis to USD 1,033 million (about Rs
4,998 crore) in the June quarter.

"Looking ahead, for the quarter ending September 30,
2009, we expect revenues from our IT Services business to be
in the range of USD 1,035 million to USD 1,053 million" Premji
added.

On a standalone basis, Wipro posted two-fold growth in
net profit at Rs 1,197.90 crore for the first quarter ended
June 30. It had a net profit of Rs 546 crore in the first
quarter of FY`09. Total income rose 12 percent to Rs 5,383.4
crore in the June quarter.

Bureau Report



First Published: Wednesday, July 22, 2009 - 11:19

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