Wipro net up 25% | business | Hindustan Times
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Wipro net up 25%

The company recorded a net profit of Rs 725.60 crore in the year-ago period. Wipro's IT services revenue stood at Rs 4,405 crore, a year-on-year growth of 39 pc.

business Updated: Jul 18, 2008 20:56 IST

Infotech major Wipro has registered a net profit of Rs 908 crore for the first quarter of the current fiscal year, an increase of 25 per cent over the same period last year.

The company recorded a net profit of Rs 725.60 crore in the year-ago period. Wipro's IT services revenue stood at Rs 4,405 crore, a year-on-year growth of 39 per cent.

“We have had another satisfying quarter,” Wipro chairman Azim Premji said. “Revenues from our IT services were $1,067 million, ahead of our guidance of $1,060 million.”

The company sounded cautious in the near term, given the prevailing uncertainty. “Looking ahead for the (next) quarter, we expect our revenue from IT services to be approximately $1,089 million”, Premji said. “We expect the second half to be better than the first half,” added Girish Paranjpe, joint CEO, IT services.

“We have won seven multi-million deals and added 31 customers,” the company’s CFO, Suresh Senapaty, said. “We added another customer to our $100 million customers list.”

Senapaty said Wipro is committed to hiring 14,000 heads this year.