x
Earnings reports

Wipro Boosts Profits

BANGALORE, India -- Wipro Limited (NYSE:WIT) today announced financial results under US GAAP for its second fiscal quarter ended September 30, 2006.

Highlights for the Results:
  • Total Revenue was Rs. 35.14 billion ($765 million1), representing an increase of 41% over the same period last year.
  • Net Income was Rs. 6.96 billion ($152 million1), representing an increase of 48% over the same period last year.
  • Global IT Services and Products Revenue was at Rs.27.17 billion ($591 million1), representing an increase of 44% over the same period last year.
  • Global IT Services and Products Earnings Before Interest and Tax (EBIT) was at Rs. 6.65 billion ($145 million1), representing an increase of 48% over the same period last year.
  • Global IT Services and Products added 54 new clients during the quarter.


Outlook for our Quarter ending December 31, 2006

Azim Premji, Chairman of Wipro, commenting on the results said “We believe that the focus we have on strategy and execution has continued to deliver robust results for the company. Our IT Services & Products business witnessed strong volume growth and operational improvements during our quarter ended September 30, 2006. Our differentiated Services - Technology Infrastructure Services, Testing Services and Enterprise Application Services – have grown double digits sequentially. In addition, our Financial Solutions and Technology, Media, Transportation & Services (TMTS) Vertical demonstrated excellent traction and delivered superior performance. Our Global IT Services & Products business added 54 new clients during our quarter ended September 30, 2006, 11 of which were Global 500 or Fortune 1000 clients. Further, our BPO Services business also posted a strong Revenue growth and Operating Margin improvement, reinforcing our confidence that it is moving in the right direction of delivering industry-leading growth rates. Looking ahead, for the quarter ending December 31, 2006, we expect Revenue from our Global IT Services & Products business to be approximately $ 633 million.”

Wipro Ltd.

Be the first to post a comment regarding this story.
HOME
Sign In
SEARCH
CLOSE
MORE
CLOSE