<b>Wipro Q1</b>: Net up 45% to Rs 620cr

Wipro today reported a 45% increase in consolidated net profit at Rs 620 crore for the first quarter ended June 30, 2006 when compared with Rs 428 crore in Q1FY06.

According to an official release issued today, total income 39% to Rs 3,142.50 crore from Rs 2,261.90 crore. "Global IT services and products revenue increased 42% to Rs 2,451 crore," the release added.

Wipro issued a guidance for the second quarter ending September 30, 2006, and said revenue from the global IT services business to be approximately $577 million.

Azim Premji, chairman of Wipro, said: "The results for the quarter were quite satisfying. We enhanced our strategic investments to sustain long-term growth even as we continued solid execution leading to improvements in operating performance. Our Global IT services business continued to witness broad based growth, across verticals, geographies and service lines. The external environment remains buoyant - we see offshoring at the center-stage of IT strategy of global corporations.

"In these exciting times, we are well-positioned to benefit from our diversified service portfolio and deep industry expertise.

"Looking ahead, for the quarter ending September 2006, we expect revenue from our global IT services business to be approximately $577 million."

Suresh Senapaty, chief financial officer, said: "During the quarter ended June 2006, our global IT services revenue at $539.3 million was ahead of our guidance of $533 million. Revenue of global IT services segment included $3.2 million from Enabler, our acquisition announced and consummated during the quarter."

Wipro added 62 new customers, including eight Fortune 1000/Global 500 companies, and 2,693 employees during the quarter ended June 30, 2006.

According to a release issued by the company today, "We had 56,435 employees as of June 30, 2006, which includes 40,496 employees in our IT services business and 15,939 employees in our BPO business. Compared to the quarter ended March  31, 2006, this represents a net addition of 2,693 employees including an additional 409 employees from our completed acquisitions.

"During the quarter, we added 62 new customers including eight Fortune 1000 or Global 500 companies. This includes 24 customers in our technology business, 36 in enterprise business  and two in our BPO business."