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SOFTWARE INDUSTRY NEWS |
Wipro reports first quarter 2010 results |
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 Wipro has announced its financial results under International Financial Reporting Standards (IFRS) for its first fiscal quarter ended June 30, 2010. Total revenues were $1.56 billion, representing an increase of 16 percent over the same period last year. Net Income was $284 million, marking a 31 percent increase over the same period last year. IT Services made up 76 percent of total revenue and 93 percent of operating income for the quarter. IT services revenues were $1,185 million, an an increase of 14 percent over the same period last year, while earnings before interest and tax (EBIT) was $291 million, 26 percent more than the same period last year. The division added 22 new clients a net of 4,854 employees during the quarter. The company's IT Products division brought in 11 percent of total revenue and two percent of operating income for the quarter. The division recorded a 13 percent growth in revenues over the same period last year, at $179 million. EBIT for this segment was $7.3 million. |
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