Wipro records 12 per cent growth
Wipro Limited has announced results for the quarter ended June 30, 2009. As per data supplied by the company, IT services revenue touched $1,033 million, a YoY (year-on-year) decline of 3.3 per cent. On a constant currency basis, YoY growth was 2.1 per cent.
Revenue, however, increased by 5 per cent YoY to Rs 62.74 billion (Rs 6,274 crore), while profit after tax grew by 12 per cent YoY to Rs 10.16 billion (Rs 1,016 crore). In rupee terms, revenue for IT services stood at Rs 48.25 billion (Rs 4,825 crore), a YoY growth of 10 per cent.
Commenting on the results, Wipro chairman Azim Premji said, "We are starting to see the first signs of stability in the business as ramp downs start to taper off and volumes start to stabilise."
Suresh Senapaty, ED and CFO of Wipro, said, "It was another quarter of strong performance. We improved on several operating parameters to deliver margin expansion of 0.6 per cent to 22.3 per cent in the IT services segment."
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