Azim Premji-led IT and FMCG company Wipro Ltd on Thursday posted 8.44 per cent increase in net profit at Rs 671.4 crore for the quarter ended June 30 and said that the appreciating Rupee affected its performance.
MUMBAI: Azim Premji-led IT and FMCG company Wipro Ltd on Thursday posted 8.44 per cent increase in net profit at Rs 671.4 crore for the quarter ended June 30 and said that the appreciating Rupee affected its performance.
Wipro had reported a net profit of Rs 619.1 crore for the quarter ended June 30, 2006.
"The results for the quarter are satisfying considering the strong headwinds faced by us in the form of an appreciating rupee," Wipro Chairman Azim Premji said.
Looking ahead, for the quarter ending September 2007, we expect our revenue from our global IT services business to be around $777 million, Premji added.
The total revenues of the company increased 23.75 per cent to Rs 3776.8 crore for the quarter ended June 30, from Rs 3051.9 crore in the corresponding quarter a year ago, Wipro informed the Bombay Stock Exchange.
The group recorded a net profit of Rs 725.6 crore for the quarter ended June 30, as compared to Rs 620.4 crore for the same quarter in the previous year.
Total revenues rose to Rs 4203.3 crore for the quarter ended June 30, from Rs 3142.5 crore a year ago.
New client additions continued to be robust and we had a good set of wins during the quarter in BPO, package implementation and technology infrastructure services, including a deal of $130 million, the company said.
During the quarter, our consumer care and lighting business took a big leap by acquiring Unza, South East Asia's leading personal care company. This was an important step for the business as we saw large opportunities in the emerging Asian economies, Premji added.
Shares of the company were trading at Rs 500, down 0.88 per cent on BSE in early morning trade.
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