Wipro Q2 revenue up 6% to INR69.17 billion
Published:27-October-2009
By Staff Reporter
Sees more stability in volumes, pricing and an improving demand environment
Indian software maker Wipro has posted revenue of INR69.17 billion for the second quarter of 2009, up 6% compared to revenue of INR65.07 billion for the same period last year.
The company has posted a net profit of INR11.62 billion, up 19% compared to INR9.78 billion for the same period a year ago.
Azim Premji, chairman of Wipro, said: “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.
For the quarter ended September 30, 2009, IT Services revenue grew 3.5% sequentially or 5% year over year to INR49.96 billion while IT Products revenue grew 18% to INR11.83 billion, compared to INR10.02 billion for the same period last year. Consumer Care and Lighting business recorded revenue of INR5.86 billion, a growth of 11% over the same period last year.
IT Services and IT Products businesses accounted for 72% and 17% of the total revenue, respectively, while its Consumer Care and Lighting business accounted for 5% of the total revenue.
Under IFRS, the company has posted revenue of INR69.18 billion ($1.44 billion), an increase of 6% over the same period last year. Net income was up 21% to INR11.71 billion ($243m).
Mr Premji added: “Looking ahead for the quarter ending December 31, 2009, we expect revenues from our IT Services business to be in the range of $1,092m to $1,113m.”
