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Wipro Q1 Net up 12 pc at Rs 1,015.5 cr; adds 26 new clients

Posted on: Fri, 24 Jul 2009 21:48:00 EDT

Symbols: WIT

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Mumbai, Jul 22, 2009 (Asia Pulse Data Source via COMTEX) --
WIT | Quote | Chart | News | PowerRating -- Indian Software major Wipro Wednesday reported 11.86 per cent increase in consolidated net profit at Rs 1,015.50 crore for the first quarter ended June 30, 2009.

The IT firm had a net profit of Rs 907.80 crore in the June quarter of previous fiscal, Wipro said in a filing to the Bombay Stock Exchange.

Income from sales rose to Rs 6,289.10 crore in the June quarter, up 4.80 per cent from Rs 6,001.30 crore in the same period previous fiscal.

The IT services business added 26 new clients during the quarter, the company said.

?We are starting to see the first signs of stability in the business as ramp downs start to taper off and volumes start to stabilize,? Wipro Chairman Azim Premji said.

The company?s revenue from IT Services declined 3.3 per cent on an year-on-year basis to USD 1,033 million (about Rs 4,998 crore) in the June quarter.

?Looking ahead, for the quarter ending September 30, 2009, we expect revenues from our IT Services business to be in the range of USD 1,035 million to USD 1,053 million? Premji added.

On a standalone basis, Wipro posted two-fold growth in net profit at Rs 1,197.90 crore for the first quarter ended June 30. It had a net profit of Rs 546 crore in the first quarter of FY?09. Total income rose 12 per cent to Rs 5,383.4 crore in the June quarter.

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