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Wipro projects $711m revenue from global IT Q1 2007

April 20, 2007

Wipro reported Q4 net profit of Rs 856 crore versus Rs 765 crore in previous quarter, a growth of 11.84%. Its revenues has increased by 8.89% to Rs 4333 crore (Rs 43.33 billion) from Rs 3979 crore (Rs 39.79 billion). Profit After Tax (PAT) grew by 42% YoY to Rs. 29.42 billion (Rs. 2,942 Crore)

Revenues of their combined IT businesses crossed the landmark of USD 3 billion in annual revenue. Wipro’s Global IT business crossed the Rs 100 billion mark and grew 38% to Rs 110.95 billion (Rs. 11,095 crores). The Enterprise Solutions Business in Global IT Services segment crossed USD 1 billion of annual revenue and Finance Solutions Business crossed USD 500 million.

Suresh Senapaty told,

In the last one-year, we won about ten USD 50 million accounts and the kind of pipeline we are seeing and the initiative we have taken in terms of large deals and also the initiative we are taking in Canada, in terms of an investment, all of them are showing up in the results. We would look forward to much more of that coming through in 2007-08. So overall, 2007-08 looks very exciting for us.

The company expects to grow 20-22% in the next 2 years.

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