Wipro Q2 net rises 10 per cent to Rs1,285 crore
22 Oct 2010
Wipro Ltd today reported a 10 per cent year-on-year increase in its fiscal second quarter (July-September 2010-11) net income at Rs1,285 crore ($288 million) against Rs1,170 crore in the similar period of the previous year. Gross revenue stood at Rs7,772 crore during the quarter against Rs6,894 crore in the previous-year quarter.
Total revenue from IT services rose 15 per cent during the period to Rs5,747 crore ($1.29 billion) from Rs4,998 crore in the year-ago quarter.
Non-GAAP adjusted net income (excluding impact of accelerated amortisation of stock based compensation) also rose 10 per cent to Rs1,276 crore ($286 million), over the same period last year.
Earnings before interest and taxes (EBIT) rose 7 per cent year-on-year to Rs1,275 crore ($286 million) over the same period last year.
Wipro said its IT services recorded a 6.6 per cent growth in volume during the quarter. The company also added 29 new clients in the quarter.
Operating income to revenue ratio for the segment stood at 22.2 per cent for the quarter ended 30 September 2010. The company had 1,15,900 employees as of 30 September 2010, up 2,975 from the similar quarter in the previous year.