SME Times - Wipro Net Up 18 Percent for Fiscal 2009-10, Wipro Net Profit Rise 18 Percent, Wipro Net Profit Rose 18 Percent in 2009-10

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SME Times News Bureau | 23 Apr, 2010
Wipro Ltd posted net profit of Rs.45.93 billion (Rs.4,593 crore) for fiscal 2009-10, registering 18 percent growth year-on-year (YoY), according to the Indian accounting standard.

In a regulatory filing on Friday, the IT bellwether said total revenue for the fiscal under review (FY 2010) grew by six percent YoY to Rs.271.24 billion (Rs.27,124 crore), as per the Indian accounting standard.

Under the International Financial Regulatory Standard (IFRS), net income for FY 2010 is $1.02 billion and total revenue $6.03 billion.

Wipro Ltd also projected an average revenue guidance of $1.2 billion from its global IT services for the first quarter (April-June) of fiscal 2010-11.

In a regulatory filing Friday, the IT bellwether said with the business environment returning to normal, revenue from IT services would be in the range of $1,190-$1,215 million for the first quarter of FY 2011.

The higher guidance is based on buoyant growth in the fourth quarter (January-March) of fiscal 2009-10, when IT revenue was $1.17 billion as projected, registering a growth of 11.5 percent year-on-year (YoY) and 3.5 percent sequentially (quarter-on-quarter).