Wipro net slips quarterly, up 3 percent yearly

Global software major Wipro Ltd. has posted Rs.2,240 crore net profit for the fourth quarter of fiscal 2015-16, a decline of 2 percent year-on-year (YoY) in rupee terms under the global accounting norms.

For fiscal 2015-16, the net profit, however, increased 3 percent YoY to Rs.8,890 crore.

In a regulatory filing to the BSE on Wednesday evening after stock markets closed for trading, the IT firm said total revenue for quarter under reference (Q4) increased 12 percent YoY to Rs.13,630 crore and 9 percent YoY for fiscal 2016 to Rs.51,240 crore.

In dollar terms, net income was $337 million for fourth quarter and $1.3 billion for FY 2016, while total revenue was $2.1 billion for Q4 and $7.7 billion for FY 2016.

Revenue from the flagship global IT services business grew 6 percent yearly and 2.4 percent sequentially to $1,882 million ($1.9 billion) for the fourth quarter and 3.7 percent YoY to $7,346 million ($7.4 billion) for FY 2016 in dollar terms.

In rupee terms, revenue from IT services grew 14 percent YoY to Rs.12,800 crore for Q4 and 11 percent YoY to Rs.48,730 crore for fiscal 2016.

--IANS

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