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Wipro’s second-quarter net rises 17 pc

Press Trust Of India
Oct 19, 2007 at 12:52pm IST

New Delhi: Software major Wipro Ltd on Friday posted an increase of 17.63 per cent in net profit at Rs 823.7 crore for the quarter ended September 30 compared to Rs 700.2 crore for the corresponding quarter last year.

The total income of the company rose by 34.64 per cent at Rs 4,883.6 crore for the quarter reviewed against Rs 3,627 crore for the same quarter last year, Wipro said in a communique to the Bombay Stock Exchange.

The standalone net profit of the company increased by 14.29 per cent at Rs 760.3 crore for the second quarter compared to Rs 665.2 crore for the corresponding quarter in the previous year, the company added.

PROFIT ON: The total income of the company rose by 34.64 per cent at Rs 4,883.6 crore.

The total standalone income of the company has moved up by 25.77 per cent to Rs 4245.0 crore for the September quarter this year from Rs 3,375.2 crore for the quarter ended September 30, 2006.

The board at its meeting held on October 19 also declared an interim dividend of Rs 2 per share (100 per cent on an equity share of par value of Rs 2), the company said.

"The results for the quarter demonstrate strong execution by team Wipro on all fronts. Revenues from our global IT services at $796.5 million for the quarter, including revenues of $6.4 million from Infocrossing, were ahead of our guidance of $777 million," Wipro Chairman Azim Premji said.

"Looking ahead, for the quarter ending December 2007, we expect our revenue from our Global IT services business to be approximately USD 905 million, including revenues of around $60 million from acquisitions" he added.

"Improved realisations and superior management of key operating parameters helped us mitigate the adverse impact on account of offshore salary increases and also deliver an operating margin expansion of 80 basis points," Wipro Chief Financial Officer, Suresh Senapaty said.

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