Wipro Q3 net rises 10% at Rs 1,456 cr

Wipro, India's third-largest software services exporter, has reported a 10.4% rise in consolidated net profit at Rs 1,456 crore in the quarter ended December 31,2011. The net profit in the corresponding quarter of the previous year stood at Rs 1,319 crore.

The figures are in line with street expectations helped by a weaker rupee and the restructuring of its operations.

The IT major's consolidated revenue in Q3FY12 is reported at Rs 9,997 crore, up 28% from the same period last year and the global IT revenue stands at Rs 7,607 crore, also up 28% from last year.

Azim Premji, Chairman of Wipro, commenting on the results said, "We continue to execute on our strategy and propel the business towards a higher growth trajectory. The overall macroeconomic sentiments continue to be uncertain and we are monitoring it closely."

"We saw broad-based growth with five of the six verticals growing upwards of 4% in constant currency. Revenues in constant currency exceeded the guidance range. We have seen positive feedback from customers and employees on our restructuring approach," added TK Kurien, executive director and CEO of Wipro.

IT services business, which contributed 76% of the total revenue during the reporting quarter, added 39 new clients, the company said.

The company's IT services revenue is at $1,505 million, a sequential increase of 2.2% and a y-o-y increase of 12%. The non-GAAP constant currency revenue growth exceeds the guidance range at sequential growth of 4.5%.

Wipro's IT services earnings before interest and tax (EBIT) is Rs 1,583 crore, an increase of 20% y-o-y.

The company added 5,004 employees in the quarter taking the total headcount to 1.36 lakh employees as of December 31.

Wipro has announced an interim dividend of Rs 2 per share/ADS.

Its shares were trading at Rs 404, up 0.15% from the day before as the close of trading hours yesterday.