Thursday, October 21, 2010

Wipro earnings below expectations, net profit declines

IT major Wipro has reported its earnings for the July-September quarter. The company\'s net sales for the second quarter rose to Rs. 7,730.5 crore against Rs. 7,236 crore in the previous quarter.

However, the net profit declined to Rs. 1,284 crore against Rs. 1,319 crore in the previous quarter. (April-June, 2010).

The numbers are below the Street's expectations. An NDTV poll expected the net sales at Rs. 7794.96 crore and net profit at Rs. 1310 cr.

The company said that it added 29 new clients in the second quarter and 2,975 new employees were added.

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