Wipro net up 17 percent in first quarter

Thursday, 19 July 2007, 07:00 Hrs
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Bangalore: Wipro, on Thursday, posted a net profit of 7.3 billion in the first quarter (Q1) of the fiscal year 2007-08, registering a growth of 17 percent year-on-year (YoY) under the Indian generally accepted accounting principles (GAAP).

In a notification to the stock exchanges here Thursday, the company said the consolidated income for Q1 under review was 42 billion, reflecting YoY growth of 34 percent under the Indian GAAP.

Revenue from its flagship global IT services and products division was 29.5 billion, a YoY growth of 20 percent.

Under the US GAAP, the net income is $175 million, representing an increase of 16 percent over the same period of the last fiscal year.

Revenue from the global IT division is $726 million, registering YoY growth of 20 percent and higher than the guidance figure of $711 million, given at the beginning of the quarter in April.
Source: IANS
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