Revenue from IT Services at $1067 Million, 37% year on year.

Wipro Limited announced its results
approved by the Board of Directors for the quarter ended June 30,
2008.




Highlights of the Results:


Wipro Limited Revenue increased by
43% Year on Year (YoY) to Rs. 59.67 billion (Rs. 5,967 Crores);
Profit After Tax (PAT) grew by 25% YoY to Rs. 9.08 billion (Rs. 908
Crores).


IT Services Revenue in dollar
terms was $1067 million, a sequential growth of 3.5% and YoY growth
of 37%. In rupee terms, Revenue stood at Rs. 44.05 billion (Rs.
4,405 Crores), a YoY growth of 39%.


Profit Before Interest & Tax
(PBIT) for IT Services segment was Rs. 9.19 billion, a growth of 37%
YoY.


Wipro won the SAP Pinnacle Award
for thought leadership around enterprise SOA.


IT Services added 31 new clients
during the quarter.


IT Products business recorded a
44% YoY growth in Revenues and 7% YoY growth in PBIT.


Wipro Consumer Care and Lighting
business Revenue grew 119% YoY and PBIT grew 100% YoY.




Performance for the quarter ended June
30, 2008 and Outlook for quarter ending September 30, 2008, Azim
Premji, Chairman of Wipro, commenting on the results said: “We have
had another satisfying quarter. Revenues from our IT Services were
$1,067 million for the quarter, ahead of our guidance of $1,060
million. In the backdrop of significant economic uncertainty, our
Financial Services and Retail businesses demonstrated their
resilience. We had strong growth in our differentiated Service lines
like Testing, TIS and BPO. Our strategy of focusing on MEGA/GAMA
accounts is delivering results with top customers growing ahead of
company average. We improved on several of operational parameters
during the quarter. Given the environment, we remain cautious in the
near-term. Looking ahead, for the quarter ending September 2008, we
expect our Revenue from our IT Services business to be approximately
$1089 million.”



Suresh Senapaty, Chief Financial
Officer of Wipro, said : “During the quarter ended June 2008, we
were able to sustain margins in spite of Restricted Stock Units
grants. Rate Realization and Utilization improved sequentially by 300
basis points and 50 basis points respectively. We have won 7
multi-year multi-million dollar deals and added 31 new customers
during the quarter. We added another customer to our $100 million
customer list.”