Wipro follows Infy; reports over 7 per cent fall in Q1 net at Rs1,110 crore
23 Jul 2010
Wipro Ltd, the country's third-largest software company, today reported a 7.34 per cent fall in its standalone net profit, at Rs1,110 crore, for the quarter ended 30 June 2010, against Rs1,197.9 crore in the similar quarter of the previous fiscal.
Total income of the company increased to Rs6,111 crore for the quarter ended 30 June 2010, from Rs5,383.4 crore in the quarter ended 30 June 2009.
The Wipro group, however, announced a 30.5 per cent jump in fiscal first quarter net profit, at Rs1,318.6 crore, against Rs1,010.4 crore in the quarter ended 30 June 2009.
Total group income increased to Rs7,371.5 crore for the quarter ended 30 June 2010 from Rs6,345.7 crore in the quarter ended 30 June 2009.
Wipro also saw its attrition rate zoom to 15.8 per cent during the April-June quarter of the current fiscal (2010-11) from 9.8 per cent in the similar period year ago (2009-10) and 12.1 per cent in the previous quarter (January-March 2010).
Net additions in Wipro's IT services business stood at 4,854 people in the current quarter against 3,725 in the previous quarter (Jan-March 2010 and down 735 a year ago.