Home Economy Wipro net up 25 percent in first quarter

Wipro net up 25 percent in first quarter


Bangalore : Wipro Ltd posted net profit of Rs.9.08 billion for the first quarter (April-June) of this fiscal (2008-09), registering 25 percent growth over the same period last fiscal under the Indian accounting standards.

In a notification to the stock exchanges Friday, the IT bellwether said consolidated revenue increased to Rs.59.67 billion during the quarter under review (Q1), posting 43 percent year-on-year (YoY) growth.

As per the American accounting standard, net income rose to $190 million, representing an increase of 15 percent YoY. Similarly, consolidated income rose to $1.39 billion, which is 43 percent higher YoY.