Wipro revenue up by 36 pc, PAT 19 pc at Rs 978 cr

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Mumbai, Oct 22 (UNI) IT and consumer major Wipro today announced a 36 per cent increase in its revenue for the second quarter at Rs 6,507 crore with Profit after Tax (PAT) witnessing a 19 per cent increase to touch Rs 978 crore.

Sequentially its IT services revenue in dollar terms was USD 1,110 million, up by four per cent sequentially. In rupee terms, the revenue stood at Rs 4,750 crore, a year on year (YoY) growth of 36 per cent.

The Company told the BSE that its IT services added 28 new clients during the quarter and the product business recording a 50 per cent YoY growth.

Wipro Consumer Care and Lighting business revenue grew 42 per cent year on year.

Wipro Chairman Azim Premji commented that the performance had been excellent with IT services revenue growing significantly ahead of the guidance of USD 1,089 million.

''Retail&Transportation, Manufacturing&Healthcare and Financial Services businesses led the growth with strong performances during the quarter,'' he said, adding ''Our differentiated Service lines of Technology Infrastructure Services, Testing Services and Package Implementation continue to show good growth''.

He said ''our leadership in India&Middle East business was further re-emphasized with another quarter of strong year on year growth. We won six multi-year multimillion dollar deals during the quarter. The global economic environment has deteriorated significantly over the past couple of months, and our outlook is cautious in the near term given the extent of strain on the global economy. However, we are confident on the resilience of our business model to tide over these challenging times.'' For the third quarter ending December 31, the company expects the revenue from IT Services business to be approximately USD 1,121 million.

UNI VK SSS AW1058

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