Wipro's Q4 profit rises 28.8 pc to Rs 2,226.5 crore

        Bangalore, Apr 17 (PTI) The country's third-largest
software services firm Wipro today posted a 28.8 per cent
increase in profit to Rs 2,226.5 crore in the quarter ended
March 31 on the back of improving global economic sentiment
and cost optimisation.
        The Bangalore-based firm had registered a profit of Rs
1,728.7 crore in the fourth quarter ended March 31, 2013,
Wipro said in a statement. The results are under International
Financial Reporting Standards (IFRS).
        Net sales grew 21.7 per cent to Rs 11,703.6 crore in the
quarter from Rs 9,613.1 crore a year earlier.
        Revenue from IT services stood at Rs 10,620 crore, up 24
per cent year-on-year. In dollar terms, the segment's revenue
was at USD 1.72 billion, up 8.5 per cent year-on-year. This is
in line with its projection of USD 1.712 billion to USD 1.745
billion for January-March 2014.
        For April-June, Wipro expects revenue from IT services to
be in the range of USD 1,715 million to USD 1,755 million.
        "The steady improvement in global economy, coupled with
the exciting pace of technological advancements, presents us
with opportunities to create innovative solutions to help our
customers differentiate, compete and succeed in their
respective markets," Wipro Chairman Azim Premji said.
        For 2013-14, profit rose 17.5 per cent to Rs 7,796.7
crore, while revenue climbed 16.1 per cent to Rs 43,754.9
crore. The company added 59 customers during the quarter.
        IT services revenue for the year was at USD 6.62 billion
(up 6.4 per cent y-o-y) or Rs 39,950 crore (up 18 per cent).
        Wipro had 1,46,053 employees as of March 31, as part of
its IT services business.
        "Our focus on process simplification, automation and
platform-based delivery continues to deliver results and we
are seeing the benefits through improved productivity, reduced
timelines in execution and greater business agility," Wipro
Executive Director and Chief Executive Officer T K Kurien
said.
        This focus has enabled improved win ratios and has also
enhanced customer satisfaction, he added.
        Wipro declared a final dividend of Rs 5 (USD 0.08) per
share/ADS, taking the total for the year to Rs 8 (USD 0.13).
        The IT products segment delivered revenue of Rs 1,110
crore (USD 185 million) for the quarter, up 3 per cent, while
for the full year, it dipped 1 per cent to Rs 3,880 crore (USD
646 million).
        Shares of the company, which announced results after
market hours, rose 2.39 per cent to Rs 585.55 at the close on
the BSE. PTI KSU