Wipro’s Q2 net up 19% at Rs 1,162 cr | business | Hindustan Times
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Wipro’s Q2 net up 19% at Rs 1,162 cr

business Updated: Oct 27, 2009 23:01 IST
HT Correspondent

In line with its industry counterparts TCS and Infosys, the country’s third largest software exporter Wipro Ltd on Tuesday said its net profit for the quarter ended September ended 30 stood at Rs 1,162 crore, a growth of 19 per cent over the corresponding period a year ago when its profit was Rs 978 crore.

Total revenue grew 6 per cent to Rs 6,917 crore led by the IT services business that contributed Rs 4,996 crore, about 72 per cent of the overall income. Wipro added 37 clients during the quarter.

However, the company’s headcount was down from the previous quarter. Wipro said it had 97,891 employees at the end of September 30, 630 fewer than the quarter ago.

“We see more stability in volumes and pricing as well as an improving demand environment. Our broad portfolio of services and strong delivery excellence continues to position us as a partner of choice with customers, as they focus on capital conservation and cost transformation,” Azim Premji, chairman, Wipro, said in a statement on Tuesday.

At a post result briefing on Tuesday, Azim Premji talked about an improving economy and business prospects. Excerpts:

On economic recovery

The macro environment is stabilising and the improving business landscape that we had talked about last quarter is playing out in reality. As I talk to CEO’s across the globe, the general sentiment is more upbeat than before.

On Wipro’s growth prospects

Our pipeline is at the highest that we have seen and order booking is strong.

On growth segments

We are starting to see acceleration of volumes in banking and financial services. BPO continues to benefit.