Wipro records 53% increase in profits

By agencies   |   Wednesday, 19 July 2006, 07:00 Hrs
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MUMBAI: With the quarterly results out for the June 30, 2006, Wipro Ltd has recorded a net profit of $137 million as compared to 91.8 million for the corresponding quarter in 2005-06 posting a increase of 52.90 percent.

The total income increased 49.93 percent to $693 million for the first quarter of this fiscal from $462 million in the same quarter a year ago, the company informed the Bombay Stock Exchange.

Terming the results as satisfying, Wipro Ltd Chairman Azim Premji said, “we enhanced our strategic investments to sustain long term growth even as we continued solid execution leading to improvements in operating performance. Expecting quarterly revenue of $557 million by the end of September, "we see off shoring at the center stage of IT strategy of global corporations. In these exciting times, we are well positioned to benefit from our diversified service portfolio and deep industry expertise," he added.

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