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Wipro Q1 PAT rises by 87 per centWipro Limited has recorded sales and other income of Rs 4.259 billion for the quarter ending June 1999, up by 27 per cent over the corresponding quarter of 1998-99.
Profit after tax at Rs 480 million is up by 87 per cent over quarter I of 1998-99 of Rs 257 million. The Wipro board of directors at its board meeting held in Bangalore today, approved the audited quarterly accounts for the quarter ending June 30, 1999.
Profit before interest and tax (operating margin) was at Rs 501million, a growth of 22 per cent over the previous year's quarter I.
Wipro Technology Solutions became the first technology solutions player in the world to achieve SEI Level 5 in June 1999. Wipro Enterprise Solutions business was the first Software Services business in the world to get SEI Level 5 rating in January 1999.
Wipro's Systems and Services business is the domestic industry leader in networking solutions, customer services, computers and peripherals.
For the first time in three years, this business turned in a positive operating margin in quarter I of Rs 21 million from a negative Rs 28 million in quarter I of 1998-99. This was backed by sales growth of 20 per cent to Rs 1.316 billion for the quarter ending June 30, 1999.
Wipro Consumer Care and Lighting, a market leader in cooking fats, ingredient based soaps and toiletries, and Lighting systems and solutions, grew its operating margin by 48 per cent to Rs 105 million. Sales and other income of this business was lower by 9 per cent at Rs 705 million, compared to quarter I of the previous year. The drop in turnover was due to a fall in vanaspati sales by 32 per cent consequent to the fall in oil prices. Sales of toilet soaps like Santoor, Milk and Roses, Wipro Shikakai and Wipro Baby Soft grew by 16 per cent in value terms.
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