Wipro meets forecast, Q3 net up at Rs 1,004 cr

Mumbai, Jan 21: India's third largest software exporter Wipro Technologies on Wednesday, Jan 21 reported net profit of Rs 1,003.9 for the quarter ended Dec 31, 2008. Wipro's net profit was Rs 854 crore in the third quarter of the financial year 2007-08.

Azim Premji, Wipro Chairman said, "For the quarter ended Dec 2008, we delivered a strong performance with IT Services revenues growing sequentially 3.5 pc in constant currency." He added that Wipro won four multi-million dollar deal in the current quarter and have 31 new customers.

In a filing to Bombay Stock Exchange, Wipro said that in the Dec quarter of the current fiscal, its total income stood at Rs 6,773 crore. It was at Rs 5,433 crore a year ago.

When asked about the present economic situation which is hit by global recession Premji said, "We are living in tough times; the macro-economic challenges are significant and impacting businesses across segments. However, recessions do not last, resilient companies do. "Looking ahead, for the quarter ending March 31, 2009, we expect the revenue from our IT Services business including revenues from the acquisition of Citi Technology Services to be approximately $1,045 million."

OneIndia News (With inputs from Agencies)