Wipro Limited, India's third largest software services exporter and which also sells soaps and furniture, has posted 21 per cent increase in net profit to Rs 1209 crore for the fourth quarter of last fiscal as compared to corresponding previous year period. Total revenues at Rs 6983 crore, moved further by 8 per cent backed by broad based volume growth.
The flagship software services exports, which accounts for nearly 75 per cent of the Wipro's topline, reported a healthy growth of 7 per cent to Rs 5260 crore on a year on year basis. Sequentially, the topline moved up by 4.7 per cent backed by broad-based volume growth. Azim Premji, chairman, Wipro said that the business environment is returning to normal. Guiding the street for the first quarter of Fy11, Premji said that its software services arm will grow by around 3.5 per cent on a sequential basis.
For the fiscal FY10, Wipro reported a 18 per cent increase in net profit to Rs 4593 crore as compared to FY09. Topline moved further by 6 per cent to Rs 27124 crore. The software services arm, during Fy10 grew by 6 per cent to Rs 20249 crore.
Wipro's management has recommended issue of bonus shares in the ratio of 2 additional shares for every three shares held. The management has also recommended a dividend of Rs 6 per equity share.
Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro, said : “We had a satisfying quarter. We delivered close to the upper end of our guidance with revenues of $1,180 million in constant currency. We have driven up margins by 60 basis points despite headwinds of wage increases, rupee appreciation and the impact of cross currency.”