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Wipro reports 10% increase in net income for Q3
TT Correspondent |  |  20 Jan 2012

Wipro Limited has said that its net Income for  third quarter ended December 31, 2011 has risen to Rs.14.56 billion ($275 millio) registering an increase of 10% YoY and sequential growth of 12%.

The company also reported non-GAAP Adjusted Net Income of Rs.14.57 billion ($275 million), with an increase of 11% YoY.

 

The company said that its total revenues were Rs.99.97 billion ($1.89 billion), an increase of 28% YoY, while IT Services Revenue was $1,505 million, a sequential increase of 2.2% and YoY increase of 12%.

 

IT Services Revenues were Rs.76.08 billion ($1,435 million(1)), an increase of 28% YoY. It also reported non-GAAP constant currency revenue growth of 4.5% sequentially, exceeds the guidance range.

 

"We continue to execute on our strategy and propel the business towards a higher growth trajectory. The overall macroeconomic sentiments continue to be uncertain and we are monitoring it closely", said Azim Premji, Chairman of Wipro.

 

"Our client mining strategy continues to show progress with 6 customers contributing more than $100 million of revenues. We have improved operating margins through improved revenue productivity and currency benefits"said Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro.

    
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20 Jan 2012(IST)  
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