Wipro projects flat guidance; net up 18.37%

In a sign of flat growth trends in its IT business, soaps-to-software company Wipro Ltd put itself on course to register revenue growth in the range of $1,520 to $1,550 million from its flagship IT services business for the third consecutive quarter this calendar year. The company's net profit for the quarter ended June 2012 was Rs 1,580.20 crore as against Rs 1,334.9 crore in the year-ago period, a rise of 18.37 per cent.

Wipro posted revenues of $1,515 million — below its guidance of $1,520 million to $1,550 million —and attributed the dip in revenue to a $25 million cross-currency impact. On a year-on-year basis, revenue in dollar terms was an 8 per cent increase over last year. On a sequential basis, however, the dollar revenues dipped by 1.4 per cent from the revenues registered at the end of the previous quarter. Wipro results disappointed the markets with its shares falling 2.93 per cent to Rs 346 on the BSE.

In rupee terms, the company reported a revenue of Rs 8,314 crore from the IT services business, an increase of 30 per cent over the same period last fiscal, with a profit before interest and taxes of Rs 1,744 crore, a growth of 24 per cent over the last fiscal.

Wipro as a whole registered revenue of Rs 10,653 crore from all its businesses for the quarter, an increase of 24 per cent year on year. "In terms of the macro environment we see customers viewing technology as a key enabler to drive internal transformation. This particularly applies to the IT services business,'' Wipro chairman Azim Premji said.

Wipro Consumer buys out Yardley's Europe biz

Mumbai: Wipro Consumer Care & Lighting on Tuesday acquired London-based personal care brand Yardley's business in Europe except Germany and Austria for an undisclosed sum, the company said. PTI

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