Wipro, India's third largest software services provider, has reported a 2.9% drop in its first quarter FY12 consolidated net profit to Rs 1,335 crore against Rs 1,375 crore in the previous quarter.
Consolidated revenues went up over 3% to Rs 8,564 crore from Rs 8,302.4 crore quarter-on-quarter.
Topline as well as bottomline were better-than-expected - CNBC-TV18 poll saw both at Rs 8,406 crore and Rs 1,327 crore, respectively.
Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said, "Our investments in client mining are starting to show results, with 4 customers contributing more than USD 100 million of revenues. We have maintained our operating margins in the current quarter despite one month impact of salary revision.”
Its global IT services revenues increased 1.8% to Rs 6,405 crore in first quarter from Rs 6,289 crore quarter-on-quarter.
Revenues from US region increased over 7% to Rs 3,122 crore from Rs 2,914 crore. From Europe region, revenues went up considerably - 34.3% to Rs 1,880 crore from Rs 1,400 crore.
From India, revenues jumped 30.6% at Rs 1,920 crore versus Rs 1,470 crore quarter-on-quarter.
EBIT margins stood at 21.96% in first quarter.
T K Kurien, Executive Director & Chief Executive Officer, IT Business, said, "Enterprises are variabalizing their IT to position themselves better for winning in the world of constraints. We are building assets that allow consumerization of enterprise technology and performance analytics, two trends that will help us differentiate."
Guidance
Company expects IT sevices revenues for the second quarter FY12 at USD 1,436-1,464 million, a growth of 2-4% over first quarter.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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