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Wipro net up 21 percent in fourth quarter
Friday, 23 April 2010, 18:04 IST |
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Bangalore: IT major Wipro posted net profit of 
12.09 billion (1,209 crore) for fourth quarter (January-March) of fiscal 2009-10, registering 21 percent growth year-on-year (YoY), according to the Indian accounting standard.
In a regulatory filing Friday, the company said total revenue for the quarter under review (Q4) increased by eight percent YoY to 69.83 billion (6,983 crore), as per the Indian accounting standard. Under the International Financial Regulatory Standard (IFRS), net income for the quarter was $269 million and total revenue $1.55 billion.
For fiscal 2009-10, Wipro posted net profit of 45.93 billion (4,593 crore) registering 18 percent growth YoY, according to the Indian accounting standard. The total revenue for the fiscal under review (FY 2010) grew by six percent YoY to 271.24 billion (2,124 crore), as per the Indian accounting standard. Under the IFRS, net income for FY 2010 is $1.02 billion and total revenue $6.03 billion.
Wipro has projected an average revenue guidance of $1.2 billion from its global IT services for the first quarter (April-June) of fiscal 2010-11. The IT bellwether said with the business environment returning to normal, revenue from IT services would be in the range of $1,190-$1,215 million for the first quarter of FY 2011. The higher guidance is based on buoyant growth in the fourth quarter (January-March) of fiscal 2009-10, when IT revenue was $1.17 billion as projected, registering a growth of 11.5 percent YoY and 3.5 percent sequentially (quarter-on-quarter).
Wipro will issue bonus shares in the ratio of 2:3 - two additional shares for every three shares held by shareholders. The board also recommended a final cash dividend of 6 per share at par value of Re.1, which will be paid after the shareholders' nod at the company's Annual General Meeting in July. The scrip was quoting at 711.50 in morning trade Friday on the Bombay Stock Exchange (BSE), up 8.55 or 1.22 percent over Thursday's closing.
Source: IANS
12.09 billion (1,209 crore) for fourth quarter (January-March) of fiscal 2009-10, registering 21 percent growth year-on-year (YoY), according to the Indian accounting standard.
In a regulatory filing Friday, the company said total revenue for the quarter under review (Q4) increased by eight percent YoY to 69.83 billion (6,983 crore), as per the Indian accounting standard. Under the International Financial Regulatory Standard (IFRS), net income for the quarter was $269 million and total revenue $1.55 billion.
For fiscal 2009-10, Wipro posted net profit of 45.93 billion (4,593 crore) registering 18 percent growth YoY, according to the Indian accounting standard. The total revenue for the fiscal under review (FY 2010) grew by six percent YoY to 271.24 billion (2,124 crore), as per the Indian accounting standard. Under the IFRS, net income for FY 2010 is $1.02 billion and total revenue $6.03 billion.
Wipro has projected an average revenue guidance of $1.2 billion from its global IT services for the first quarter (April-June) of fiscal 2010-11. The IT bellwether said with the business environment returning to normal, revenue from IT services would be in the range of $1,190-$1,215 million for the first quarter of FY 2011. The higher guidance is based on buoyant growth in the fourth quarter (January-March) of fiscal 2009-10, when IT revenue was $1.17 billion as projected, registering a growth of 11.5 percent YoY and 3.5 percent sequentially (quarter-on-quarter).
Wipro will issue bonus shares in the ratio of 2:3 - two additional shares for every three shares held by shareholders. The board also recommended a final cash dividend of 6 per share at par value of Re.1, which will be paid after the shareholders' nod at the company's Annual General Meeting in July. The scrip was quoting at 711.50 in morning trade Friday on the Bombay Stock Exchange (BSE), up 8.55 or 1.22 percent over Thursday's closing.
Source: IANS