Wipro reports four percent rise in profits

Bangalore, Apr 23 (ANI): Wipro Limited, ranked third among India's IT outsourcing companies, beat all expectations with a four percent rise in profit and consequently boosts its shares, to a six-month high.

This was disclosed by Azim Premji, Chairman of Wipro here last evening.

Announcing the company's periodical results for the fourth quarter ending on March 31, he did forecast a strong and challenging year in the IT services sector.

As for Wipro's score card, Premji said that the revenue stood at 191.7 billion US dollars with a 31 per cent annual growth and it had added 110 clients during year.

"IT services business delivered a strong year on dollar revenue growth rates of 18.5 per cent adding more than 676 million to our top line, highest in the industry," said Premji.He also mentioned that despite the turbulent times such as the global meltdown, the company's results have been robust.

"In these turbulent times, our results have been robust, resulting in Wipro Limited posting a 28 per cent growth in revenue in rupee terms and a 19er cent growth in profits after tax," added Premji.

Further he said that Wipro has plans to invest in the telecom sector as well as the natural oil and gas segments in the domestic markets.

Wipro, promoted by Azim Premji who turned the family's ailing business of vegetable oil into an IT services major, also pointed out at the net profit in its fiscal fourth quarter rose to 9.1 billion rupees from 8.75 billion rupees reported a year ago.

Overall sales of the company also rose by 13 per cent. (ANI)