Wipro Q2 net up 1.24 per cent at Rs 1,300.9 crore

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Wipro Q2 net up 1.24 per cent
Wipro: Quotes, News
BSE 456.45BSE Quote3.65 (0.80%)
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Bangalore, Oct 31: Beating street expectations, Wipro Ltd today reported a 1.24 per cent growth in consolidated net profit to Rs 1,300.9 crore in the second quarter on the back of a healthy volume growth.

Revenues in the three months ended September 30, 2011, rose 17.64 per cent to Rs 9,094.5 crore, up from Rs 7,730.5 crore in the year-ago period, when it had logged a net profit of Rs 1,284.9 crore.

"Macroeconomic sentiments continue to remain uncertain", cautioned Chairman of the Bangalore-headquartered, New York Stock Exchange-listed firm's Chairman, Azim Premji, told reporters here.

"We have seen growth momentum build up in our IT business, with healthy volume growth. Our focused investment strategy will get the business to a higher growth trajectory," the IT czar said.

IT services, which contribute three-fourth to the company's total revenues, logged Rs 6,829 crore (USD 1.39 billion), a year-on-year rise of 19 per cent.

The company said it expects its revenues from the IT services business to be in the range of USD 1,500 million to USD 1,530 million for the quarter ending December 31, 2011.

The IT services division hired 5,240 people in the second quarter, taking its total headcount to 1,31,730 employees as of September 30, 2011, and added 44 new customers.

PTI

Read more about: wipro, ajim premji
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