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Wipro Q2 net up 19% at Rs978 cr

Wipro Q2 net up 19% at Rs978 cr
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First Published: Wed, Oct 22 2008. 12 21 PM IST
Updated: Wed, Oct 22 2008. 12 21 PM IST
PTI
Mumbai: IT services provider Wipro Ltd today said its consolidated net profit for the second quarter ended 30 September stood at Rs978.2 crore, a 18.76% growth over the corresponding quarter last fiscal.
The company had a net profit of Rs823.7 crore in the corresponding period last fiscal, Wipro said in a filing to the Bombay Stock Exchange.
Total income rose to Rs6,664.70 crore in the quarter under review, from Rs4,883.60 crore in the year-ago period.
On the back-drop of global economic downturn, Wipro announced its revenue guidance for the December quarter to be about $1,121 million.
“The global economic environment has deteriorated significantly over the past couple of months, and our outlook is cautious in the near-term... However, we are confident on the resilience of our business model to tide over these challenging times,” Wipro Chairman Azim Premji said.
On a standalone basis, Wipro reported a net profit of Rs852.50 crore in the September quarter, while it had a net profit of Rs760.30 crore in the same period last fiscal.
Standalone total income rose to Rs5,551.60 crore in the second quarter, from Rs4,245 crore in the year-ago period.
For six-month ended 30 September, Wipro reported a net profit of Rs1,885.8 crore, against Rs1,549.3 crore in the year-ago period.
Income from sales rose to Rs12,500.6 crore during the half-year, from Rs8,988.10 crore in the year-ago period.
In March 2008, pursuant to the Bombay High Court order, Wipro had merged six of its subsidiaries with itself, with retrospective effect from 1 April, 2007. Hence, the figures for the quarter and six months ending 30 September are not comparable with that of the previous period.
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First Published: Wed, Oct 22 2008. 12 21 PM IST