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Wipro Q4 net profit up 7.7% at Rs 1,481 crore

Wipro’s total income during the quarter ended 31 March 2012 rose by 18.84% to Rs9,836.30, from Rs8,276.3 crore in the year-ago period

Mumbai: IT major Wipro reported 7.7% increase in consolidated net profit at Rs1,480.9 crore for the fourth quarter ended 31 March 2012. The company had posted a net profit of Rs1,375.4 crore during the January-March quarter in 2010-11, Wipro said in a filing to the BSE, reports PTI.

The total income during the quarter rose by 18.84% to Rs9,836.30 from Rs8,276.3 crore in the year-ago period.

“Corporations globally are focused on leveraging technology to drive revenues and productivity. Our strategy is aligned to deliver value to our customers by partnering with them in this journey,” Wipro chairman Azim Premji said in a statement.

For the year ended March 2012, Wipro posted an increase of 5.1% in its net profit to Rs5,573 crore compared to Rs5,297.7 crore in the 2010-11 fiscal.

Total revenues of the company for 2011-12 increased by 20.66% to Rs37,404.4 crore compared to Rs30,998 crore in the previous fiscal.

“Our focus on operations helped improve revenue productivity and deliver strong cash flows in a volatile environment,” Wipro executive director and chief financial officer Suresh Senapaty said.

 “We have delivered revenues in line with our guidance in an uncertain environment. Our restructuring journey started with us positioning the customer at the centre of all our efforts,” Wipro executive director and chief executive officer for IT business, TK Kurien said.

Mr Kurien added that the company has seen progress with customer satisfaction scores going up in each of the last four quarters and “we have created better value for our clients, with seven customers contributing more than $100 million in revenues.”

Wipro said it added 41 new customers during the quarter and 173 new customers during the year.

The company said during the ongoing quarter (Q1, FY2012-13), it expects revenues from IT services business to be in the range of $1,520 million to $1,550 million, assuming that exchange rates of the dollar will be at Rs50.07. The company has made certain exchange rate assumptions for other currencies as well for making this projection.

Revenues during the quarter from IT products segment increased by 3% year-on-year (YoY) to Rs937 crore ($184 million), Wipro said.

The IT products segment of the company recorded an increase of 4% YoY basis to Rs3,844 crore ($755 million) for the year ended March 2012, it added.

Shares of the company were being quoted at Rs 410 in late morning trade, down 7.32% from the previous close in early trade on the BSE.

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