Wipro quarterly profit up 15%
Azim Premji’s Wipro reported a 19 per cent year-on-year growth in net profit for 2008-09, which touched Rs 3,899 crore. BR Srikanth reports.business Updated: Apr 22, 2009 22:39 IST
Azim Premji’s Wipro on Wednesday reported a 19 per cent year-on-year growth in net profit for 2008-09, which touched Rs 3,899 crore. It was helped by business in new regions, a depreciating rupee and an efficient use of human resources.
Like Bangalore rival Infosys, Wipro has projected a lower revenue guidance from global IT services in the range of $1-1.03 billion for first quarter (April-June) fiscal 2010, after posting a $1.05 billion in January-March.
Wipro said revenues grew 28 per cent year-on-year to Rs. 25, 544 crores during fiscal 2009. It registered a net profit of Rs. 1,010 crore during the fourth-quarter ended March, up 15 per cent on the year, while revenues grew 13 per cent to Rs. 6,452 crore.
The global IT Services notched revenues of Rs.4,932 crore, a growth of 20 per cent year on year. The IT services business added 110 new clients for fiscal 2009, including 20 in the fourth quarter.
The company implemented a business organisation during the fiscal year.
“We are confident that with our broad portfolio of services, our ability to execute and deliver value to customer, coupled with increased focus on productivity, makes us well positioned to emerge stronger than before,” Premji said.
Wipro chief financial officer Suresh Senapaty said profit margins improved.
The company has recommended a final cash dividend of Rs.4 per share for the fiscal year.