Wipro Ltd has posted a 184 per cent increase in profit after tax (PAT) at Rs 66.5 crore for the first-half year ending September 1, 1998, from Rs 23.5 crore in the corresponding period of the previous year.
The company's growth in gross revenue witnessed a 35 per cent increase to Rs 819.1 crore (Rs 606.6 crore) in the same period. However, Wipro Finance has made a non-recurring provision of Rs 58.1 crore to represent the diminution in the value of investment following accumulated losses.
The one-time provision has been made by Wipro Finance. The Rs 66.5-crore PAT is before the above provision.
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According to the company, the half-year turnover in software exports over the corresponding previous half-year recorded
a 74 per cent growth at Rs 283.8 crore.
Wipro's software business consists of systems software and applications software with Year 2000 solutions being just about eight per cent of services.