For the three months ended December 31, 2004, Bangalore-based Wipro reported net profit of INR4.27 billion ($97.8 million), compared to INR2.66 billion ($61 million) in the third quarter of the previous fiscal year, on revenue that grew 33.8% to INR20.9 billion ($478.6 million).
Wipro Technologies, the company’s global IT services and products division, announced operating income of INR4.13 billion ($94.6 million), compared to INR2.41 billion ($55.3 million) for the same period last year, on revenue that increased by 37.6% to INR15.79 billion ($361.7 million). Wipro Infotech, the IT services and products division dedicated to India and the Asia-Pacific region, grew at a slower rate over the quarter. The segment increased operating income by 44.3% to INR267 million ($6.1 million) on revenue that grew 20.2% to INR3.24 billion ($74.2 million). Consumer care and lighting, along with other services, accounted for the remaining INR1.87 billion ($42.9 million) of revenue.
Wipro Technologies also reported the net addition of 2,274 employees in the third quarter, bringing the division’s total, as of December 31, to 39,337. Approximately 25,000 of these are employed in the segment’s IT services sector, with the rest working in the IT enabled services business. Wipro Ltd’s total spending on personnel increased 23.7% to INR2.93 billion ($67.1 million), with the company reporting that annualized employee attrition was 12%.
Wipro’s chairman, Azim Premji, forecast revenue of approximately $370 million for Wipro Technologies’ fourth quarter.
