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Wipro Q3 net up 27% at Rs 543 crore

Its revenues in the quarter increased by 30% to Rs 2,744 cr compared to corresponding period of the last fiscal.

india Updated: Jan 18, 2006 13:12 IST

NYSE-listed IT services major Wipro Limited on Wednesday said its net profit jumped 27 per cent at Rs 543 crore for the quarter ended December 31, 2005.

The Bangalore-based firm's revenues in the quarter increased by 30 per cent to Rs 2,744 crore compared to the corresponding period of the last fiscal.

The company said global IT service and products revenue for the October-December quarter was Rs 2,122 crore, an increase of 34 per cent year-on-year, contributed primarily by volume growth.

It said the global IT services and products added 61 new clients in the quarter -- the highest every customer add.

"The results for the quarter signal the next phase in Wipro's growth", Chairman of Wipro Azim Premji said.

"Revenues in our global IT business were $473 million -- including $1.3 million attributable to acquisition completed during the quarter -- ahead of our guidance of $463 million," he said.

Premji said apart from delivering solid revenue growth, the company improved its operating margins and increased its share of wallet from key clients, even as it made two strategic acquisitions.

"We believe that this combination of excellence in operations and strong execution of our strategy is critical to achieve our vision, and we will continue to focus on both in future as well", he said.

Premji added: "Looking ahead, for the quarter ending March 31, 2006, we expect revenues from our global IT services business to be approximately $510 million".

Wipro's global IT services and products division had 51,024 employees as of December 31, 2005 -- 36,626 in IT services business and 14,398 in BPO business. This includes net addition of 5,189 employees in Q3 of which 3,770 were in IT services (including 471 attributable to acquisitions) and 1,419 in BPO business.

First Published: Jan 18, 2006 11:09 IST