Wipro records 34 per cent growth in revenue

Bangalore, July 19: Wipro Limited today reported a 34 per cent increase in its top line for the quarter at Rs 4203 crore with the profit after tax being Rs 726 crore.

Commenting on the performance Wipro Chairman Azim Premji said ''the results for the quarter are satisfying considering the strong headwinds faced by us in the form of an appreciating rupee. Our IT Services Business continued to witness broad based growth, across Verticals, Geographies and Service lines''.

He said the revenue growth was primarily driven by strong volume growth across all business units. '' Our differentiated services, Technology Infrastructure Services and Package Implementation grew by over 50 per cent year on year, while our Business Process Outsourcing (BPO) and Testing Services delivered growth in excess of 40 per cent Year on Year''. Among the Verticals strong growth was witnessed in Finance Solutions, Telecom Service Providers, Manufacturing and Technology, Media, Transportation and Services Verticals he added.

He said ''wipro's new client additions continues to be robust and we have had a good set of wins during the quarter in our BPO, Package Implementation and Technology Infrastructure Services, including a multi year deal of dollar 130 million.

Mr Premji said ''looking ahead, for the quarter ending September 2007, we expect our Revenue from our Global IT services business to be approximately $ 777 million''.

Global IT Services and Products added 39 new clients in the quarter. Wipro's India, Middle East and Asia Pac business recorded 64 per cent growth in Revenue. Wipro Consumer Care and Lighting business Revenue grew 33 per cent YoY.

UNI