The country's third largest software exporter, Wipro, on Wednesday reported a consolidated net profit of Rs 1,003.9 crore for the quarter ended December 31, 2008, while the company had a net profit of Rs 854 crore in the third quarter of financial year 2007-2008.
The country's third largest software exporter, Wipro, on Wednesday reported a consolidated net profit of Rs 1,003.9 crore for the quarter ended December 31, 2008, while the company had a net profit of Rs 854 crore in the third quarter of financial year 2007-2008.
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"For the quarter ended December 2008, we delivered a strong performance with IT Services revenues growing sequentially 3.5 per cent in constant currency," Wipro Chairman Azim Premji said, adding: "We continue to win large deals; we won four multi-year multi-million dollar deals in the current quarter. We added 31 new customers."
The total income stood at Rs 6,773 crore for the December quarter of the current fiscal, whereas it was at Rs 5,433.2 crore a year ago, Wipro said in a filing to the Bombay Stock Exchange.
Regarding the current economic scenario Premji said: "We are living in tough times; the macro-economic challenges are significant and impacting businesses across segments. However, recessions do not last, resilient companies do.
"Looking ahead, for the quarter ending March 31, 2009, we expect the revenue from our IT Services business including revenues from the acquisition of Citi Technology Services to be approximately $1,045 million."
On a standalone basis, the company reported a net profit of Rs 733 crore for the quarter ended December 31, 2008, whereas the same was at Rs 804.1 crore for the corresponding quarter a year ago.
Total Income on a standalone basis stood at Rs 5,534.2 crore for the December quarter of this fiscal, while the same was at Rs 4,429.6 crore in the year ago period.
The company said that the results for the quarter ended December 2008 are not comparable.
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