Wipro Q1 net up 31% at $ 97 M

By agencies   |   Friday, 22 July 2005, 07:00 Hrs
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BANGALORE: Wipro Ltd said its first quarter profit rose by 31 per cent to $ 97 million during the three months ended June 30, 2005 from $ 74 million, a year earlier under U.S. accounting rules. The revenues for the quarter were higher at $ 514 million as compared to $ 402 million in the year-ago period.

Operating margins declined to 23.5 percent because of currency appreciation, lower utilisation and increased investment in sales and marketing, the company said in the statement. The software firm added 29 clients in the first quarter compared with 41 in the preceding three-month period.

Wipro had a total workforce of 41,911 in the unit serving customers outside Asia-Pacific as of June 30, compared with 41,857 during last year quarter.

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