Following is wipro's profile submitted by prasham.
Wipro records 13% growth in Net Income
Results for the quarter ended June 30, 2009 under IFRS
Bangalore, India and East Brunswick, New Jersey, USA – July 22, 2009
-- Wipro Limited (NYSE:WIT)
today announced financial results under IFRS for its first fiscal
quarter ended June 30, 2009.
Highlights of the Results:
IT Services Revenue in dollar terms was $1,033 million, a sequential
decline of 1.3% and YoY
decline of 3.3%.
IT Services Revenue on constant currency was $1,014 million, a
sequential decline of 3.0%. On
a constant currency basis, YoY growth was 2.1%.
Total Revenues were Rs. 62.46 billion ($1.31 billion1), representing
an increase of 5% over the
same period last year.
Net Income was Rs. 10.10 billion ($212 million1), representing an
increase of 13% over the
same period last year.
Non-GAAP Adjusted Net Income (excluding impact of accelerated
amortization of stock based
compensation) was Rs. 10.08 billion ($211 million
1), representing an increase of 11% over the
same period last year.
IT Services Revenues were Rs. 48.27 billion ($1,011 million1),
representing an increase of 10%
over the same period last year.
IT Services Earnings Before Interest and Tax (EBIT) was Rs. 10.70
billion ($224 million1),
representing an increase of 17% over the same period last year.
IT Services added 26 new clients in the quarter.
IT Products Revenues was flat over the same period last year and EBIT
grew by 13%.
Consumer Care and Lighting Revenue grew 9% over the same period last
year and EBIT grew
27%.
Performance for the Quarter ended June 30, 2009 and Outlook for our
Quarter ending September 30, 2009
Azim Premji Chairman of Wipro, commenting on the results said –
“We are starting to see the first signs of stability in the business
as ramp downs start to taper off and
volumes start to stabilize. We are adapting ourselves for the new
reality with continued investments in
Value Creation, Go-To-Market and driving significant Operational
Productivity. Looking ahead, for the
quarter ending September 30, 2009, we expect Revenues from our IT
Services business to be in the
range of $1,035 million to $1,053 million*”
Suresh Senapaty, Executive Director & Chief Financial Officer of
Wipro, said –
“It was another quarter of strong performance. We improved on several
operating parameters to deliver
margin expansion of 0.5% to 22.2% in the IT Services segment.”
* Guidance is based on constant currency exchange rates, GBP/USD at
1.57, Euro/USD at 1.35, USD/INR at 48.23
Wipro Limited
Total Revenue for our quarter ended June 30, 2009 was Rs. 62.46
billion ($1.31 billion
1), representing an
increase of 5% over the same period last year. Net Income for our
quarter ended June 30, 2009 on IFRS
basis was Rs.10.10 billion ($212 million
1), representing an increase of 13% over the same period last year.
Net Income for our quarter ended June 30, 2009 on an Adjusted Non-GAAP
basis (excluding impact of
accelerated amortization of stock based compensation) was Rs. 10.08
billion ($211 million
1), representing
an increase of 11% over the same period last year. Earnings per Share
for our quarter ended June 30,
2009 were Rs. 6.94 ($0.15
1), representing an increase of 13% over the same period last year.
Non-GAAP
Adjusted Earnings (excluding impact of accelerated amortization of
stock based compensation) per Share
for our quarter ended June 30, 2009 were Rs. 6.92($0.14
1), representing an increase of 10% over the same
period last year.
Reconciliation between GAAP net income and non-GAAP adjusted net
income (excluding impact of
accelerated stock based compensation) is provided in the table on page
8.
IT Services (77
% of Total Revenue and 94% of Operating Income for our quarter ended
June 30,
2009)
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> Vice President
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