Wipro Infotech topline rises 76% to Rs 700 cr

CORPORATE SCORECARD

Wipro Infotech, the India and Asia-Pacific IT services and products business of Wipro, posted a 76 per cent YoY growth in topline to touch Rs 700 crore for third quarter ended December 31, 2006.

Profit before interest and tax of Rs 58.7 crore grew by 56 per cent YoY. The division, besides selling Wipro's personal computers and laptops, also has reseller agreements with companies such as Sun Microsystems and Cisco for a host of system integration projects.

The division also takes up total outsourcing deal such as remote infrastructure management for various banks.

Wipro attributed this growth to strong demand in the domestic market from various financial institutions, state governments rolling out their e-governance initiatives.

Services business contributed 32 per cent to total revenue during the quarter and grew by 49 per cent YoY. Products business grew by 91 per cent YoY. West Asia and Asia Pacific business grew by 58 per cent YoY.

Wipro Infotech during the third quarter announced and completed the acquisition of the India and West Asia operations of 3D Networks and Planet PSG for around $25 million. Revenue for the quarter from this acquisition was Rs 47.7 crore.

"This has been an outstanding quarter for us. Sequentially, we grew our topline by 29 per cent, while the PBT moved up by 25 per cent," said Suresh Vaswani, president, Wipro Infotech.

The division's business accounted for 18 per cent of Wipro's total revenues of Rs 3,979 crore and 7 per cent of the Rs 787 crore PBIT for the quarter ended December 31, 2006.

The company, during the quarter, won clients such as Hyundai India, Wheels India, Punjab National Bank, Federal Bank, Suzuki Motorcycles India, Essel group, besides others.