BANGALORE: Client wins in new markets lifted India’s third biggest software exporter Wipro’s first-quarter by 11.78% to Rs 1015.5 crore, even as "We are starting to see the first signs of stability in the business as ramp-downs start 
to taper off and volumes start to stabilise," said Azim Premji, chairman of Wipro. The company however provided a cautious and flat forecast for the quarter ending September 2009 -- similar to what peers TCS and Infosys provided -- reflecting lower demand for India’s $40-billion software export industry. "Looking ahead for the quarter ending September 30, 2009, we expect revenues from our IT services business to be in the range of $1,035 million to $1,053 million," he added. A Reuters poll had forecast a net profit of Rs 914 billion crore for the New York-listed Wipro, which counts Citigroup, Cisco, General Motors, Nokia Siemens Networks and Credit Suiss among its clients. In April, Wipro had said its software services revenues will fall to $1 billion-$1.03 billion in June quarter, down from around $1.05 billion the company reported for quarter ended March 2009. IT services revenues for Q1 to June, 2009, was $1.033 billion, a sequential decline of 1.3% and year-on-year decline of 3.3%. The company also improved its operating margins from around 20.8% during quarter ended March 2009 to 22.3% during the first quarter ended June this year. The tech major though suffered a sequential fall in net sales from Rs 6482.1 crore posted in March 2009 while net profit remained almost flat against March levels of Rs 1,010 crore.
Source : http://economictimes.indiatimes.com/News/News-By-Company/Earnings/Wipro-Q1-up-12-to-Rs-10155-crore/articleshow/4806198.cms
to taper off and volumes start to stabilise," said Azim Premji, chairman of Wipro. The company however provided a cautious and flat forecast for the quarter ending September 2009 -- similar to what peers TCS and Infosys provided -- reflecting lower demand for India’s $40-billion software export industry. "Looking ahead for the quarter ending September 30, 2009, we expect revenues from our IT services business to be in the range of $1,035 million to $1,053 million," he added. A Reuters poll had forecast a net profit of Rs 914 billion crore for the New York-listed Wipro, which counts Citigroup, Cisco, General Motors, Nokia Siemens Networks and Credit Suiss among its clients. In April, Wipro had said its software services revenues will fall to $1 billion-$1.03 billion in June quarter, down from around $1.05 billion the company reported for quarter ended March 2009. IT services revenues for Q1 to June, 2009, was $1.033 billion, a sequential decline of 1.3% and year-on-year decline of 3.3%. The company also improved its operating margins from around 20.8% during quarter ended March 2009 to 22.3% during the first quarter ended June this year. The tech major though suffered a sequential fall in net sales from Rs 6482.1 crore posted in March 2009 while net profit remained almost flat against March levels of Rs 1,010 crore.Source : http://economictimes.indiatimes.com/News/News-By-Company/Earnings/Wipro-Q1-up-12-to-Rs-10155-crore/articleshow/4806198.cms
No comments:
Post a Comment