Software services major Wipro's fourth quarter (January-March) net profit grew 4.3% quarter-on-quarter to Rs 1,375 crore, slightly better than analyst estimates. A CNBC-TV18 poll had forecast Wipro's quarterly net profit at Rs 1,368 crore.
India's third largest software exporter's logged quarterly revenues of Rs 8,302 crore, up 6% sequentially, and ahead of the Rs 8,230 crore predicted by the poll.
In spite of surge in profit, the company's guidance for the next financial year has turned from neutral to negative. It expects global IT revenues at USD 1.39-1.42 billion in the first quarter of FY12.
The consolidated net sales for the quarter jumped 6% to Rs 8,302 crore as against Rs 7,829.3 crore in the quarter ended December 2010.
Earnings before interest, tax, depreciation and amortisation (EBITDA) margin stood at 20.56%, which was less-than-street estimates of 20.8%.
Revenues from IT services segment went up by 5.7% to Rs 6,289 crore from Rs 5,948 crore on quarter-on-quarter basis. EBIT margin for the same segment were almost flat at 22.07% versus 22.2% on QoQ basis.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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