Wipro PAT up by 25 pc, revenue 43 pc

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Azim Premji
Mumbai, Jul 18: Software export major Wipro on Friday, July 18 announced a 43 per cent increase in its turnover for the quarter ending June 30 at Rs 5,967 crore, with profit after tax growing by 25 per cent to touch Rs 908 crore.

IT services contributed a revenue of Rs 4,405 crore, the Company said in a release. Commenting on the performance, Wipro chairman Azim Premji said, ''We had another satisfying quarter. Revenue from IT services was ahead of guidance.'' He said in the backdrop of significant economic uncertainty, Company's financial services and retail businesses demonstrated their resilience. "Looking ahead, for the quarter ending September 2008, we expect our revenue from our IT services business to be approximately USD 1,089 million,'' he said.

''We had strong growth in our differentiated service lines like Testing, TIS and BPO. Our strategy of focusing on MEGA/GAMA accounts is delivering results with top customers growing ahead of company average. We improved on several of operational parameters during the quarter. Given the environment, we remain cautious in the near-term.

Chief Financial Officer Suresh Senapaty said the Company was able to sustain margins in spite of Restricted Stock Units grants. ''Rate Realisation and Utilisation improved sequentially by 300 basis points and 50 basis points respectively. We have won seven multi-year multi-million dollar deals and added 31 new customers during the quarter. We added another customer to our USD 100 million customer list'' he added.


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