IT Services revenue up 7% on year ago quarter
Indian software maker Wipro has posted revenue of INR69.83bn for the fourth quarter of 2010, up 8% compared to revenue of INR64.51bn for the same period last year.
Azim Premji, chairman of Wipro, said: “We have seen another strong quarter of broad based, volume led growth. We saw good recovery in our challenged verticals of Technology and Telecom. The business environment is returning to normal. For the quarter ending June 30, 2010, we expect revenues from our IT Services business to be in the range of $1.19bn to $1.215bn.”
The company posted a net income of INR12.09bn, up 21% compared to $10bn for the same period a year ago.
For the quarter ended March 31, 2010, the company’s IT Services revenue grew 7% year over year to INR51.64bn from INR52.6bn, while IT Products revenue grew 2% to INR8.90bn from the same period last year. Consumer Care and Lighting business recorded revenue was INR6.08bn, a growth of 27% over the same period last year.
For FY10, the company posted revenue of INR271.64bn, an increase of 6% over the last fiscal. The company reported a net income of INR45.93bn and earnings per share of INR31.52.
Suresh Senapaty, executive director and chief financial officer of Wipro, said: “We had a satisfying quarter. We delivered close to the upper end of our guidance with revenues of $1,180m in constant currency. We have driven up margins by 60 basis points despite headwinds of wage increases, rupee appreciation and the impact of cross currency.