Wipro’s Q2 net profit slips to Rs 1,284 crore

15
Vote


IT major Wipro has reported its earnings for the July-September quarter. The company’s net sales for the second quarter rose to Rs. 7,730.5 crore against Rs. 7,236 crore in the previous quarter.

However, the net profit declined to Rs. 1,284 crore against Rs. 1,319 crore in the previous quarter (April-June, 2010).

The numbers are below the Street’s expectations. An NDTV poll expected the net sales at Rs. 7,794.96 crore and net profit at Rs. 1,310 crore.

IT services revenues were Rs. 5,747 crore for the second quarter. Suresh Senapaty, executive director & CFO, “We saw a strong volume growth of 6.6 per cent driven by higher offshore mix. The operating margins for IT Services declined during the quarter due to the impact of employee progressions, restricted stock units grants and lower foreign exchange realizations.”

The company said that it added 29 new clients in the second quarter and 2,975 new employees were added.

Azim Premji, chairman of Wipro, said, “We saw strong momentum in demand as customers tried to catch up with the under-investment in IT in the previous years. For the quarter ended December 31, 2010, we expect revenues from our IT Services business to be in the range of $1,317 million to $1,343 million, a sequential increase of 3.5 per cent to 5.5 per cent.”

[Story Source] [Contest win Rs 1000-100,000 now]

This post was submitted by Chinmaya Kumar Nayak.

--> Thanks to profit.ndtv.com
Related Posts
Five reality shows that rocked 2010

Five reality shows that rocked 2010

With Shah Rukh Khan readying himself for Zor Ka Jhatka in 2011 and India's very own Minute To Win It coming up, it's more than evident what the living room staple is. The genre of TV reality shows too...
 	L&T inches up on new orders

L&T inches up on new orders

Larsen & Toubro inched up 0.63% at Rs 1967.90 at 11:50 IST on BSE after the company said its construction division won orders worth Rs 1164 crore.The company announced the order win during trading...
 	3D holograms may soon be a reality

3D holograms may soon be a reality

London: The 3D hologram you saw in ''Star Wars'' may soon become a reality, thanks to a new breakthrough made by researchers at the University of Arizona. The researchers have developed a holographic ...
New Airplane Seats Give Only 23 Inches Of Leg Room

New Airplane Seats Give Only 23 Inches Of Leg Room

New reason to hate flying: Proposed line of saddle-like airplane seats.The “SkyRider,” a new airplane seat design to be unveiled this week sits passengers on a saddle-like seat for the duration of...
Rising malware targets Mac users: McAfee

Rising malware targets Mac users: McAfee

MBANGALORE: McAfee Inc, the No. 2 security software maker, said production of software code known as malware, which can harm computers and steal user passwords, reached a new high in the first six mo...
Apple takes control of iCloud.com domain

Apple takes control of iCloud.com domain

Apple today took administrative control of the iCloud.com domain less than a week before CEO Steve Jobs is to unveil his company's new cloud-based service.According to WHOIS searches Wednesday, Apple ...

Leave a Reply

 
We will keep You Updated...
Get Free Email Newsletter from VoteUpIndia Sign up for our free email newsletter. (Help?)
Read latest headlines in your favorite news reader
Follow VoteUpIndia  on Twitter Become a VoteUpIndia Fan on Facebook Subscribe to VoteUpIndia in Google Reader Add VoteUpIndia  to My Yahoo Add VoteUpIndia  to Netvibes Subscribe to Free Techie Buzz RSS Feed
Sponsored Links
Join Now !
Advertisements
Featured Video
Amazon
Best Storytellers
Powered by Authors Widget
Recent Posts

The Amazing Spider Man Wallpaper

Looking for The Amazing Spider Man Wallpaper? Sony Pictures just released a new movie called The...

Woman robs her own home to start beauty parlour

Woman lodges false complaint of robbery, bruises self to make it seem real, blames brother; cops...

Abhishek will take time to recover: Big B

September 14, 2011, (Sawf News) - Abhishek Bachchan sustained minor injuries - a small cut above the...

Imran Khan files suit against drinking age

Actor Imran Khan Wednesday filed a public suit in the Mumbai High Court against raising the age limit...

Rakhi eyes Baba’s virginity!

Mumbai: The tale of baba and the babe seems to be getting spicier by the day. Impolite it may appear...
Recent Comments
i think it helps relationship because you can talk to that person though the internet
i really luv especially when rehan goes 80 yrs back and discussion in meera and rehan .also story of meera is really sensitive .i lo
i really luv this movie i luv it best excellent, fabolous ever i watched .tia bajpayee is really darling in her first looks in scene
Try to post good n interesting news ..... v dnt published any spam !!
i am submiting your site link plz post my site link
Tag Cloud