Wipro net up 25 per cent in first quarter

Wipro Ltd posts net profit of Rs 9.08 billion for the first quarter (April-June) of this fiscal (2008-09).

Wipro Ltd posted net profit of Rs.9.08 billion for the first quarter (April-June) of this fiscal (2008-09), registering 25 per cent growth over the same period last fiscal under the Indian accounting standards.

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In a notification to the stock exchanges on Friday, the IT bellwether said consolidated revenue increased to Rs.59.67 billion during the quarter under review (Q1), posting 43 per cent year-on-year (YoY) growth.

As per the American accounting standard, net income rose to $190 million, representing an increase of 15 per cent YoY. Similarly, consolidated income rose to $1.39 billion, which is 43 per cent higher YoY.