Wipro Q4 results up by 3.4 per cent

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Bangalore, Apr 18: Wipro has announced its fourth quarter and FY08 results. The company's Q4 consolidated net profit was up by 3.4 pc at Rs 880 crore versus Rs 851.1 crore and net sales up 6.6 pc at Rs 5,691.9 crore versus Rs 5,339.6 crore, QoQ.

Total income increased to Rs 5777.2 crore for the March quarter from Rs 4,395.9 crore in the corresponding quarter. On a standalone basis, Wipro"s Q4 net profit rose 1.08 per cent to Rs 827.3 crore for the quarter ended March 31, 2008 as compared to Rs 818.4 crore in the corresponding quarter previous year. Total income has increased to Rs 5,368.1 crore for the March quarter from Rs 3874.4 million year ago. Margin went down a bit at 24.3 pc versus 24.6% QoQ. Global IT services operating margin declined at 21% versus 24 pc YoY.

For the year ended March 31, 2008, the company"s net profit rose 7.78 per cent to Rs 3,063.3 crore as compared to Rs 2842.1 crore previous year.

Total income increased to Rs 17,819.5 crore for the year ended March 31, 2008 from Rs 13,952.6 crore for the year ended March 31, 2007.

Suresh Senapaty, CFO, Wipro informed the Indian business Television Channel CNBC-TV18 that their Q1 global IT revenue guidance is at $98 million. Going forward, both services and products will be included in IT business. He added that clients are showing interest in increased offshoring. Some of Wipro"s clients are holding on to their Budgets, while some have reduced, he said. But he expects more offshoring to come on backended basis.

Wipro has recommended a final dividend of Rs 4 per equity share.

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