Wipro Q3 net up 21 percent at Rs 1,217 core
Mumbai: IT firm Wipro Ltd today reported 21.26 percent growth in consolidated net profit at Rs 1,217.4 crore for the third quarter ended December 31, 2009.
Total income, as per Indian accounting norms, rose to Rs 7,055.8 crore during the December quarter of FY`10 from Rs 6,773 crore in the same period previous fiscal, Wipro said in a filing to the Bombay Stock Exchange.
"We reported another strong quarter driven by significant uptick in volumes. We have maintained margins despite a decrease in our rate realisation and a strong appreciation of the rupee," Wipro Executive Director and Chief Financial Officer Suresh Senapaty said.
The company`s IT services business added 31 new clients during the quarter. At the end of December, the IT business increased its headcount by 4,855, taking the total employee strength to 1,02,746.
"We have seen a positive demand environment which has driven broad-based sequential growth across all our verticals, service lines and geographies. In 2010, we expect IT budgets to be flat to marginally positive," Wipro Chairman Azim Premji said.
During the quarter, the IT Services business reported revenues of Rs 5,164 crore, a year on year growth of 2 percent. IT Services business accounted for 74 per cent of the revenue.
Shares of Wipro were trading at Rs 741.65 on the BSE, up 0.57 percent from its previous close.
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