Wipro posts Rs 908 Crore net

Contrary to expectations the Indian IT major Wipro Limited headquartered in Bangalore has posted a net profit of Rs. 908 crore for the first quarter ended June 30.

Bangalore, July 18 : Contrary to expectations the Indian IT major Wipro Limited headquartered in Bangalore has posted a net profit of Rs. 908 crore for the first quarter ended June 30.

Announcing the results here today, the Chairman of Wipro Azim Premji said, "We have had another satisfying quarter. Revenues from our IT services were 1,067 million dollar for the quarter, ahead of our guidance of 1,060 million dollar. In the backdrop of significant economic uncertainty, our financial services and retail businesses demonstrated their resilience."

Wipro's revenues were at Rs 5967 crore for the same period with 43 per cent annual growth. IT services revenue for the quarter was at Rs 4405 crore with a 39 per cent year-on-year growth.

For the quarter ended June 30, IT products business recorded revenues of Rs.750 crore, representing a growth of 44 Year-on-year.

IT products business accounted for 12.5 per cent of the revenue and two per cent of the PBIT for the quarter ended June 30.

The company had 95,675 employees as of June 30, 2008, which includes 74,838 employees in our IT business unit and 20,837 employees in our BPO business unit. By Kestur Vasuki

ANI