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News >> Technology >>
Wipro Q3 net up 27% at $123.40M
By agencies
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Wednesday, 18 January 2006, 20:30 IST
BANGALORE: IndiaÂ’s third largest information technology company, Wipor Technologies has announced its third quarter result for the current financial year. The NYSE-listed IT services majorÂ’s net profit jumped 27 percent at $123.40 million for the quarter and revenues increased by 30 percent to $623.63 million as against the same period last year.
The Bangalore-based company said global IT service and products revenue for the October-December quarter was $482.27 million, an increase of 34 percent year-on-year, contributed primarily by volume growth. It said the global IT services and products added 61 new clients in the quarter -- the highest every customer add.
Commenting on Wipro’s results, the company’s Chiarman, Azim Premji said, "The results for the quarter signal the next phase in Wipro's growth. Revenues in our global IT business was $473 million -- including $1.3 million attributable to acquisition completed during the quarter -- ahead of our guidance of $463 million.”
Apart from delivering solid revenue growth, Wipro improved its operating margins and increased its share of wallet from key clients, even as it made two strategic acquisitions. He said, "We believe that this combination of excellence in operations and strong execution of our strategy is critical to achieve our vision, and we will continue to focus on both in future as well.”
The company is looking ahead, for the quarter ending March 31, 2006, “We expect revenues from our global IT services business to be approximately $510 million,” Premji said.
Wipro's global IT services and products division had 51,024 employees as of December 31, 2005 -- 36,626 in IT services business and 14,398 in BPO business. This includes net addition of 5,189 employees in Q3 of which 3,770 were in IT services (including 471 attributable to acquisitions) and 1,419 in BPO business.