Press Esc to close
Wednesday 31 August 2016
News updated at 12:54 PM IST
Weather
Max: 21°C
Min : 25°C
In Bengaluru
Cloudy sky

Wipro net profit up 18% to Rs 1,716 cr

Bangalore, Jan 18, 2013, DHNS :
Wipro Chairman Azim Premji at the companys financial  results in Bangalore on Friday. PTI

Wipro Limited on Friday reported net profit of Rs 1,716 crore for the quarter ended December 31, 2012 (Q3), an increase of 18 per cent when compared to the same period last year.

The company's revenues increased 10 per cent year-on-year and stood at Rs 11,025 crore. Wipro's IT services business posted earnings before interest and tax (EBIT) of Rs 1,792 crore, an increase of 13 per cent compared to the same period of the previous year; IT services reported revenue of Rs 8,602 crore for the quarter under review.

“The overall macro-economic factors are stabilising globally. The US economy has shown improvement, which is evident from improved consumer demand and improvement in employment data,” Wipro Chairman Azim Premji said.

Premji added that in India, the company welcomes the policy changes announced by the government on the deferment of GAAR and clarifications on Income Tax which are pro-industry and investor.

Though Wipro met its Q3 revenue guidance of $1,560-$1,590 million, it came out with a muted guidance of $1,585-$1,625 million for the quarter ending March 31, 2013.

Wipro Executive Director & Chief Executive Officer (IT Business) T K Kurien, said – “We have seen broad based growth in the quarter with all our verticals growing sequentially.

Our improvement in customer and employee engagement is reflected in client mining with10 customers contributing more than $100 million and lower attrition. We continue to make investments in our go to market organisation and technology themes to be a strategic partner to our customers.”

Recruitment subdued

The IT services segment had 142,905 employees as of December 31, 2012, an increase of 2,336 people in the quarter. The company also added 50 new customers in the quarter under review and the deal pipeline is strong.

Kurien added that the client-hunting team it had earlier established to aggressively go after deals to 160 people.

“We have expanded operating margins sequentially through improvements in revenue productivity and improved cash flow generation through efficient working capital management,” Executive Director & Chief Financial Officer Suresh Senapaty said.

However, the company's growth has not been equally significant across geographies. Though Europe, for instance, has grown 10.3 per cent year-on-year (YoY), America saw decline of 0.50 per cent YoY.

The company's revenues in consulting business took a hit this quarter, declining 18 per cent from the same quarter last year; ADM business declined 5.9 per cent YoY. However, its technology infrastructure services increased 14.6 per cent YoY.

Wipro Consumer Care and Lighting business segment recorded revenues of Rs 1,028 crore ($187 million) for the quarter, an increase of 17 per cent YoY. Following the announcement, Wipro shares on BSE tanked closed to 8 per cent and closed at Rs 397.15 per share.


Go to Top

Photo Gallery
Activists of All Bodo Student's Union protesting to demand the creation of a separate state...

Activists of All Bodo Student's Union protesting to demand the creation of a separate state...

Rajiv Gandhi Khel Ratna awardee gymnast Dipa Karmakar and Dronacharya award winner coach...

Rajiv Gandhi Khel Ratna awardee gymnast Dipa Karmakar and Dronacharya award winner coach...

A newly inducted Provincial Armed Constabulary (PAC) personnel quenching his thirst...

A newly inducted Provincial Armed Constabulary (PAC) personnel quenching his thirst...

A view of decorated Shivalinga at Somnath on Tuesday...

A view of decorated Shivalinga at Somnath on Tuesday...

Workers transport an idol of Hindu god Ganesh on a cart ahead of the Ganesh Chaturthi festival...

Workers transport an idol of Hindu god Ganesh on a cart ahead of the Ganesh Chaturthi festival...

Actress Katrina Kaif during a promotional event for her film 'Baar Baar Dekho' in Jaipur...

Actress Katrina Kaif during a promotional event for her film 'Baar Baar Dekho' in Jaipur...

Former Australian cricketer Glenn McGrath poses during a promotional event in Kolkata...

Former Australian cricketer Glenn McGrath poses during a promotional event in Kolkata...

Victor Banerjee with actress Raima Sen and Argentinian film director Pablo Cesar...

Victor Banerjee with actress Raima Sen and Argentinian film director Pablo Cesar...

Actor Milind Soman during a press conference to promote Pinkathon run in Jaipur on Tuesday....

Actor Milind Soman during a press conference to promote Pinkathon run in Jaipur on Tuesday....

Sand artist Manas Sahoo creates a sand sculpture on the eve of local self governance day in Puri...

Sand artist Manas Sahoo creates a sand sculpture on the eve of local self governance day in Puri...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523