Wipro Q2 Net up 19% at Rs 1,161.7 cr
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Last Updated: Tuesday, October 27, 2009, 10:29
  
Mumbai: Software firm Wipro on Tuesday reported 18.76 per cent increase in its consolidated net profit at Rs 1,161.7 crore for the second quarter ended September 30, 2009.

The IT exporter had a net profit of Rs 978.2 crore in the September quarter of last fiscal, Wipro said in a filing to the Bombay Stock Exchange.

Total income of the company rose to Rs 7,057.4 crore during the July-September quarter of the current fiscal, from Rs 6,664.8 crore in the year-ago period, as per the Indian accounting norms.

"We see more stability in volumes and pricing as well as an improving demand environment. Our broad portfolio of services and strong delivery excellence continues to position us as a partner of choice with customers, as they focus on capital conservation and cost transformation," Wipro Chairman Azim Premji said.

The country's third largest software exporter's revenue from IT services in rupee terms grew by 5 per cent to Rs 4,996 crore from the year-ago period. However, in dollar terms, the revenue fell by 4 per cent to USD 1,065.2 million.

"Looking ahead for the quarter ending December 31, 2009, we expect revenues from our IT Services business to be in the range of USD 1,092 million to USD 1,113 million," Premji said.

In the reported quarter, the firm added 37 new clients to its IT services business, which accounted for 72 per cent of its total revenue.

"Margins for the IT Services business stood at 23.8 per cent, an expansion of 143 bps (basis points) sequentially and 279 bps YoY," Wipro Executive Director and Chief Financial Officer Suresh Senapaty said.

At the end of the quarter the company's employee strength stood at 97,891.

On a stand alone basis, Wipro posted 44.52 per cent growth in net profit at Rs 1,232.1 crore for the September quarter. Total income rose to Rs 5,979.2 crore during the period from Rs 5,551.6 crore in the year-ago period.

The scrip of Wipro has gained 59 per cent during the July-September quarter, outperforming the BSE IT index, which increased 39 per cent during the period.

Bureau Report


First Published: Tuesday, October 27, 2009, 10:29


Tag: WiproQ2 Net
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