Indian software maker Wipro has posted revenue of INR69.66bn for the third quarter of 2009, up 5% compared to revenue of INR66.18bn for the same period last year.
The company posted a net profit of INR12.17bn, up 21% compared to INR10.04bn for the same period a year ago.
Azim Premji, chairman of Wipro, said: “We have seen a positive demand environment which has driven broad based sequential growth across all our verticals, service lines and geographies. In 2010, we expect IT budgets to be flat to marginally positive. For the quarter ending March 31, 2010, we expect revenues from our IT Services business to be in the range of $1,161m to $1,183m.”
For the quarter ended December 31, 2009, IT Services revenue grew 2% year over year to INR51.64bn from INR50.8bn, while IT Products revenue grew 20% to INR10.02bn from INR8.37bn for the same period last year. Consumer Care and Lighting business recorded revenue of INR6.01bn, a growth of 14% over the same period last year.
IT Services and IT Products businesses accounted for 74% and 14% of the total revenue, respectively, while its Consumer Care and Lighting business accounted for 9% of the total revenue.
Under IFRS, the company has posted revenue to INR69.77bn ($1.5bn), an increase of 6% over the same period last year. Net Income was up 19% to INR12.03bn ($259m).
Suresh Senapaty, executive director and chief financial officer of Wipro, said: “We reported another strong quarter driven by significant uptick in volumes. We have maintained margins despite a decrease in our rate realisation and a strong appreciation of the rupee. Our Order Booking has been good and BFSI has bounced back strongly.”
