Wipro Q4 net up 15 per cent; expects IT revenues to fall
22 Apr 2009
Wipro Ltd, has reported a 15 per cent rise in its fourth quarter (January-March 2009) net profit at Rs1,010 crore and a 13 per cent jump in revenue at Rs6,451 crore.
For fiscal 2008-09, the company reported a 19 per cent increase in net profit at Rs3,899 crore and a 28 per cent rise in its topline at Rs25,544 crore year-on-year. IT services revenues were up 31 per cent while the operating profit was up 29 per cent.
Revenues at Wipro Technologies grew 20 per cent to Rs4,932 crore in the fourth quarter of 2008-09 but the company expects revenue to drop a little over 2 per cent during the first quarter of the current fiscal (April-June 2009).
Wipro chairman Azim Premji said it has a robust pipeline of deals even as it increased productivity and is well-positioned to tackle the subdued environment.
''We expanded our margins despite the headwinds of reduction in volumes and lower tailwind of forex gains,'' added Suresh Senapaty, chief financial officer of Wipro.
The IT services operating profits were up 24 per cent at Rs1,073 crore.
New York-listed Wipro, serves clients such as Citigroup, Cisco, Nokia Siemens Networks and Credit Suisse.
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