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Rediff.com  » Business » Wipro Q4 net up 14 pc at Rs 1,375 crore

Wipro Q4 net up 14 pc at Rs 1,375 crore

Last updated on: April 27, 2011 10:05 IST

Wipro Q4 net up 14 pc at Rs 1,375 crore

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The country's third largest software exporter Wipro, on Wednesday, reported a growth of 13.77 per cent in consolidated net profit for the quarter ended March 31, 2011, to Rs 1,375.4 crore (Rs 13.75 billion).

Last year, the company had posted a net profit of Rs 1,208.9 crore (Rs 12.09 billion) for the fourth quarter.

"We have made good progress in creating a leaner, simpler and more customer-centric organisation structure. We believe our business strategy along with the new structure will deliver industry leading growth," Wipro chairman Azim Premji said in a statement.

IT services, which contributed 76 per cent to the company's revenues in FY'11, stood at $1,400 million, a sequential increase of 4.2 per cent and a year-on-year increase of 20.1 per cent.

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Image: Azim Premji

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The company said it expected its revenues from the IT services business to be in the range of $1,394 million to $1,422 million for the first quarter ending June 30, 2011.

The IT services segment hired 2,894 people this quarter and 14,314 people during the financial year, taking the total headcount to 1,22,385 employees as of March 31, 2011.

It added 68 new customers for the reporting quarter and 155 new customers during the year.

"The business environment is positive and we are focusing on growth by directing investments on momentum verticals. We have announced wage hikes effective June 1, 2011, which would have an impact on the operating margins," Wipro executive director and chief financial officer Suresh Senapaty said.



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Net income from sales for the reporting quarter stood at Rs 8,302.4 crore (Rs 83.02 billion) as against Rs 7,016.1 crore (Rs 70.16 billion) in Q4, FY2009-10, up 18.33 per cent.

For the fiscal ended March, 2011, the company has registered a net profit of Rs 5,297.7 crore (Rs 52.98 billion), compared to Rs 4,593.1 crore (Rs 45.93 billion) during the previous fiscal, up 15.34 per cent.

Net income from sales in the 2010-11 fiscal grew 14.51 per cent to Rs 31,098.7 crore (Rs 310.99 billion) from Rs 27,157.4 crore (Rs 271.57 billion) in the previous fiscal.

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Image: Wipro campus.

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Wipro Q4 net up 14 pc at Rs 1,375 crore

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On a standalone basis, the company has reported a net profit of Rs 1,337.6 crore (Rs 13.37 billion) for the quarter, a growth of 8.15 per cent vis-a-vis the same period last year.

"Our journey of building the new Wipro is based on the foundation of customer focus, domain and technology leadership directed toward the customer needs and providing enriching career opportunities for our employees," Wipro executive director and CEO (IT Business) T K Kurien said.

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The company's cash and cash equivalents stood at Rs 6,114.1 crore (Rs 61.14 billion) as on March 31, 2011.

IT products comprised 12 per cent of the total company revenue at Rs 3,691 crore (Rs 36.91 billion) for the year, a decline of 3 per cent y-o-y. Revenue for the quarter stood at Rs 911 crore (Rs 9.11 billion).

Wipro's Consumer Care and Lighting business, which constituted 9 per cent of total revenue, recorded revenue of Rs 2,726 crore for FY'11, an increase of 21 per cent y-o-y.

Revenues for the quarter stood at Rs 724 crore (Rs 7.24 billion).

The board has proposed a final dividend of Rs 4 per share (200 per cent on an equity share of Rs 2 par value) for the year ended March 31, 2011, subject to shareholders' approval.



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