Wipro Q3 net profit rises 19 per cent to Rs1,203 crore
20 Jan 2010
Wipro Limited today reported fiscal third quarter net income of Rs1,203 crore ($259 million), an increase of 19 per cent over the same period in the previous financial year.
The better-than-expected performance by Wipro, following better shows by No 1 software firm Tata Consultancy Services and No 2 Infosys Technologies, marks a recovery in the information technology sector and an increase in demand by key financial sector clients in the wake of a global recovery.
Total revenues of the company increased 6.0 per cent to Rs6,977 crore ($1.50 billion) over the same period oh the previous year.
In dollar terms, IT services revenue rose 2.4 per cent year-on-year and 5.8 per cent sequentially to $1,126.8 million, during the quarter ended 31 December 2009.
On a constant currency basis, IT services revenue was up 0.8 per cent year-on-year and up 4.9 per cent sequentially.
Earnings per share for the quarter ended 31 December 2009 were Rs8.25 ($0.18), showing an increase of 19 per cent over the same period last year.