Wipro FY06 consolidated net rises 27 per cent; IT revenues cross $2 billion

20 April 2006

Wipro has reported fourth quarter and 2005-06 results which are above market expectations. Global IT revenues, including BPO services, of Wipro crossed the $2 billion mark for the year 2005-06. For the year 2005-06 global IT revenues stood at Rs9,770.8 crore, making Wipro the second largest Indian IT company in revenue terms behind TCS.

For the full year 2005-06, Wipro has reported a net profit of Rs2,067.4 crore on a consolidated based, an increase of 26.95 per cent from the previous year. Total revenues for the year increased 30.06 per cent to Rs10,625.8 crore from Rs8,169.8 crore.

For the quarter ended March 2006, consolidated net profit of the company stood at Rs617.9 crore, an increase of 42.7 per cent from the previous year quarter figure of Rs433 crore. Consolidated revenues rose 34.65 per cent to Rs3,113.2 crore from Rs2,312.1 crore.

Consolidated results include the operating results of all divisions of Wipro and its subsidiaries like Wipro BPO, Wipro Inc and Wipro UK.

IT Services and Products
For the fourth quarter, the IT services and products division (including hardware) of the company reported a PBIT (profit before interest and tax) of Rs597.8 crore, an increase of 37.8 per cent from the previous year quarter figure of Rs433.8 crore. Total revenues increased 37.45 per cent from Rs1,948 crore to Rs2,677.5 crore.

Full year IT services PBIT increased 27.58 per cent to Rs2,025.5 crore from Rs1,587.7 crore. Full year revenues rose 32.1 per cent to Rs9,008.1 crore from Rs6,819.4 crore.