Wipro Q4 net up 7.7% at Rs 1,480.9 crore

IT major Wipro on Wednesday  reported a 7.7 per cent increase in consolidated net profit at Rs 1,480.9 crore (Rs 14.80 billion) for the fourth quarter ended March 31.

The company had posted a net profit of Rs 1,375.4 crore (Rs 13.75 billion) during the January-March quarter in 2010-11, Wipro said in a filing to the BSE.

The total income during the quarter rose by 18.84 per cent to Rs 9,836.30 crore (Rs 98.36 billion) from Rs 8,276.3 crore (Rs 82.76 billion) in the year-ago period.

"Corporations globally are focused on leveraging technology to drive revenues and productivity. Our strategy is aligned to deliver value to our customers by partnering with them in this journey," Wipro Chairman Azim Premji said in a statement.

For the year ended March, 2012, Wipro posted an increase of 5.1 per cent in its net profit to Rs 5,573 crore (Rs 55.73 billion) compared to Rs 5,297.7 crore (Rs 52.97 billion) in the 2010-11 fiscal.

Total revenues of the company for 2011-12 increased by 20.66 per cent to Rs 37,404.4 crore (Rs 370.04 billion) compared to Rs 30,998 crore (Rs 309.98 billion) in the previous fiscal.

"Our focus on operations helped improve revenue productivity and deliver strong cash flows in a volatile environment," Wipro Executive Director and Chief Financial Officer Suresh Senapaty said.

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"We have delivered revenues in line with our guidance in an uncertain environment. Our restructuring journey started with us positioning the customer at the center of all our efforts," Wipro Executive Director and Chief Executive Officer for IT Business, T K Kurien said.

Kurien added that the company has seen progress with customer satisfaction scores going up in each of the last four quarters and "we have created better value for our clients, with seven customers contributing more than $100 million in revenues".

Wipro said it added 41 new customers during the quarter and 173 new customers during the year.

The company said during the ongoing quarter (Q1, FY2012-13), it expects revenues from IT services business to be in the range of $1,520 million to $1,550 million, assuming that exchange rates of the dollar will be at Rs 50.07.

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The company has made certain exchange rate assumptions for other currencies as well for making this projection.

Revenues during the quarter from IT products segment increased by 3 per cent year-on-year (YoY) to Rs 937 crore (USD 184 million), Wipro said.

The IT products segment of the company recorded an increase of 4 per cent YoY basis to Rs 3,844 crore (USD 755 million) for the year ended March, 2012, it added.

Shares of the company were being quoted at Rs 413.75, down 6.48 per cent from the previous close in early trade on the BSE.

Wipro's consumer care and lighting business segment recorded an increase of 23 per cent in revenues, year-on-year to Rs 3,340 crore ($656 million) for the year.

The company had recorded a revenue of Rs 2,725 crore (Rs 27.25 billion) last year. Revenues for the quarter stood at Rs 907 crore (Rs 9.07 billion), the company added.

Wipro's IT services segment has added 13,535 people during the year, taking the total head count to 1,35,920 employees as of March 31, 2012.

The company declared a final dividend of Rs 4 per share, taking the total dividend declared during the year to Rs 6.