Indian software maker Wipro has posted revenue of INR78.2bn ($1.74bn) for the third quarter of 2010, up 12.6% compared to revenue of INR69.4bn ($1.5bn) for the same period last year.
The company has posted a net profit of INR13.25bn, up 9.5% compared to INR12.1bn for the same period a year ago.
For the quarter ended 31 December 2010, IT Services revenue grew 15% year over year to INR59.48bn, while IT Products revenue declined 13.8% to INR8.7bn, compared to INR10.1bn for the same period last year.
Consumer Care and Lighting business recorded revenue grew 21% year over year to INR6.9bn, compared to INR5.7bn for the same period last year.
IT Services and IT Products businesses revenue grew 10.5% year over year to INR68.27bn, compared to INR61.76bn for the same period last year.
Wipro chairman Azim Premji said the company announced the appointment of TK Kurien as the CEO of IT Business and Executive Director, Wipro Limited effective 1 February 2011.
"The Joint CEO structure was one of the key factors that successfully helped us navigate the worst economic crisis of our times and with the change in environment, there is a need for a simpler organisation structure," Premji said.
"Kurien’s track record with customers, passion for excellence, coupled with strategic thinking and rigor in execution makes him uniquely positioned to lead Wipro through the next phase of growth," Premji said.
