Thursday, October 21, 2010

Wipro Profit Up 9.7%

BANGALORE -- Indian software major Wipro Ltd. Friday said its second-quarter consolidated net profit rose 9.7%, helped by a strong rebound in outsourcing orders.

Net profit for the July-September period was 12.85 billion rupees [$290 million], compared with 11.71 billion rupees a year earlier.

Revenue--including that from information technology services, IT products, consumer care and the company\'s lighting business--gained 11.8% to 77.31 billion rupees from 69.18 billion rupees a year earlier.

All figures are based on international accounting standards.

The results are below expectations: The average of forecasts from 25 analysts polled by Dow Jones Newswires was for a net profit of 13.32 billion rupees on revenue of 78.86 billion rupees.

For the quarter ending Dec. 30, the company expects its IT services revenue to be between $1.317 billion and $1.343 billion, compared with $1.261 billion in the three months through September, on a constant currency basis.

Wipro is listed on the Bombay Stock Exchange as well as the New York Stock Exchange.

News From:

No comments:

eXTReMe Tracker