For the quarter ended June 30, Bangalore-based Wipro Technologies reported earnings before interest and tax of INR 3.33bn ($72m), up 84% on 2003, on revenue that grew to INR 13.2bn ($287m). Excluding an INR 242m ($5m) revenue reduction from the different Indian GAAP and US GAAP accounting standards, sales for Wipro Technologies would actually have grown 47% to INR 13.5bn ($294m). The company said its operating margin was 25% for the quarter, a 5% increase on the same period in 2003, which was due to cost efficiencies and sending more of its work offshore.
At the end of the period, Wipro Technologies added some 3,015 new employees, totaling some 31,517 people, of which 20,768 are in IT services, and the remaining 10,749 at its business process outsourcing division Wipro Spectramind. Wipro overall reported an 83% increase in net profit to INR 3.25bn ($71m) on revenue that grew 51% to INR 17.7bn ($385m).
VP Vivek Paul said Wipro Technologies is experiencing an improving pricing environment, and this has helped the company to post an improved operating margin for the fourth consecutive quarter.
