Wipro declares Q4 results, net up by Rs.1,375 Crore

Bangalore: Wipro, the software services exporter, reported their net profit for the fourth quarter. The total revenues for the year rose to Rs. 31,099 crore, an increase of 15 percent YoY. The net profit was Rs. 5,298 crore, an increase of 15 percent YoY.

The total revenue for the Q4 was Rs.8, 302 crore, that is an increase of 6 percent increase against Rs. 7,829 crore in the third quarter. The net profit is Rs.1, 375.4 crore, which up by 4.2 percent from Rs. 1,319 crore of the third quarter.

Wipro hired 2,894 people this quarter and 14,314 people during the financial year. It added 68 new customers for the reporting quarter and 155 new customers during the year.

Suresh Senapaty, Chief Financial Officer, Wipro said that they have announced wage hikes, which will be in effect from June 1,2011. It will have an impact on the operating margins. He also added that the business environment is positive and they are focusing on growth by directing investments on momentum verticals.