Wednesday, July 20, 2011

WIPRO Q1 FY 2011-2012 Result Analysis

Wipro today reported a growth of 1.23% in consolidated net profit for the quarter ended June 30, 2011, to Rs 1,334.9 crore. Net income from sales during the reporting quarter stood at Rs 8,564 crore, as against Rs 7,236.4 crore in Q1FY11, up 18.34%. 

Consolidated operating margin for June quarter was maintained at 23% despite the impact of salary revision; however it was lower than 25% in the same period last year. IT services, which contributed 75% to the company's revenues in Q1FY12, stood at $1,408 million, a sequential increase of 0.5% and a year-on-year increase of 16.9%.

The company said it expects its revenues from the IT services business to be in the range of $1,436 million to $1,464 million for the second quarter ending September 30, 2011.

Wipro's consumer care and lighting business recorded revenues of Rs 755 crore in Q1FY12, an increase of 18% y-o-y and accounting for 9% of Wipro's total revenues during the quarter.

The company's cash and cash equivalents stood at Rs 5,075.2 crore as of June 30, 2011.
The IT services division hired 4,105 new people this quarter, taking its total headcount to 1,26,490 employees as of June 30, 2011. It added 49 new customers during the reporting quarter.

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