Wipro Q1 net profit stood at Rs 1,015 crore

Wipro Q1 net profit stood at Rs 1,015 crore Vs Rs 908 crore and income stood at Rs 6,289 crore Vs Rs 6,001 crore. Consolidated net sales stood at Rs 6,289.1 crore Vs Rs 6,482.1 crore (QoQ) and net profit stood at Rs 1,015.5 crore Vs Rs 1,010 crore.

For Q2FY10, Wipro has given the guidance, in which IT revenues are seen at $ 1035-1053 million. Factors in dollar/rupee at 48.23 level. Wipro’s Q1FY10 US GAAP IT Services revenue stood at $ 1,033 million, up 1.3% (QoQ).

Commenting on the results, Chairman of Wipro, Azim Premji said, “We are starting to see the first signs of stability in the business as ramp downs start to taper off and volumes start to stabilize. We are adapting ourselves for the new reality with continued investments in value creation, go-to-market and driving significant operational productivity. Looking ahead, for the quarter ending September 30, 2009, we expect Revenues from our IT Services business to be in the range of $1,035 million to $1,053 million.”

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