Wipro net up 12 percent in first quarter

Wipro Ltd posted net profit of Rs.10.16 billion (Rs.1,016 crore) for the first quarter (April-June) of this fiscal (2009-10), registering 12 percent year-on-year (YoY) growth as per the Indian accounting standard.

Wipro Ltd posted net profit of Rs.10.16 billion (Rs.1,016 crore) for the first quarter (April-June) of this fiscal (2009-10), registering 12 percent year-on-year (YoY) growth as per the Indian accounting standard.

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In a regulatory filing on Wednesday, the IT bellwether said consolidated revenue for the quarter (Q1) was Rs.62.74 billion (Rs.6,274 crore), an increase of five percent YoY as per the Indian accounting standard.

Under the International Financial Reporting System (IFRS), net income grew by 13 percent YoY to $212 million for the quarter under review, while total revenue was up by five percent to $1.31 billion.

Revenue from its flagship business division global IT services, however, declined sequentially by 1.3 percent and 3.3 percent YoY to $1.03 billion.