Wipro Limited has announced financial results under International Financial Reporting Standards (IFRS) for its fourth quarter and year ended March 31, 2012.
The Company has reported an increase of 1.7 per cent in net profit on a sequential basis for the fourth quarter of 2011-12 fiscal. The net profit increased to Rs 1,481 crore from Rs 1,456 crore. Revenues for the quarter went up 19 per cent to Rs 9,869 crore. For the full year, the net profit went up 5 per cent to Rs 5,573 crore, while revenues increased 21 per cent to Rs 37,525 crore. Revenues from IT services business for the quarter grew 21 per cent to Rs 7,590 crore.
Suresh Senapaty, Executive Director & Chief Financial Officer of Wipro said, "Our focus on operations helped improve revenue productivity and deliver strong cash flows in a volatile environment."
T.K. Kurien, Executive Director & Chief Executive Officer, IT Business said, "We have delivered revenues in line with our guidance in an uncertain environment. Our restructuring journey started with us positioning the customer at the centre of all our efforts - we have seen progress with customer satisfaction scores going up in each of the last four quarters and we have created better value for our clients, with seven customers contributing more than $100 million in revenues."
