New Delhi, April 28: 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 `1,375.4 crore, as against `1,208.9 crore last year.
“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.
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.
Net income from sales for the reporting quarter stood at `8,302.4 crore as against `7,016.1 crore in Q4, FY2009-10, up 18.33 per cent.
For the fiscal ended March, 2011, the company has registered a net profit of `5,297.7 crore, compared to `4,593.1 crore during the previous fiscal, up 15.34 per cent.
Net income from sales in the 2010-11 fiscal grew 14.51 per cent to `31,098.7 crore from `27,157.4 in the previous fiscal.
On a standalone basis, the company has reported a net profit of `1,337.6 crore for the quarter, a growth of 8.15 per cent vis-a-vis the same period last year. The company’s cash and cash equivalents stood at `6,114.1 crore as on March 31, 2011.
The board has proposed a final dividend of `4 per share (200 per cent on an equity share of `2 par value) for the year ended March 31, 2011, subject to shareholders’ approval.
–Agencies–