Wipro has announced its fourth quarter and FY08 results. The company's Q4 consolidated net profit was up by 3.4% at Rs 880 crore versus Rs 851.1 crore and net sales up 6.6% at Rs 5,691.9 crore versus Rs 5,339.6 crore, QoQ.
Margin went down a bit at 24.3% versus 24.6% QoQ. Global IT services operating margin declined at 21% versus 24% YoY.
BPO services revenue increased at Rs 322 crore in fourth quarter as against Rs 264 crore in previous quarter. The company added net 2,290 employees and 29 IT clients in the quarter ended March 2008.For FY08, it has reported consolidated net profit of Rs 3,282.90 crore and net sales of Rs 20,019.50 crore.Girish Paranjpe, Suresh Vaswani have appointed Joint-CEO of IT business.
According to CNBC-TV18 estimates, Wipro was likely to post net profit of Rs 872 crore and net sales of Rs 5,628.5 crore.
Guidance Q1
The company is expecting combined IT services revenues at USD 1060 million as against USD 1031.5 million in Q4 and Global IT revenue seen at USD 988 million.Chairman and Managing Director of Wipro, Azim Premji says that they are cautious due to uncertainty in environment. Wipro CFO says onsite wage hike has hit Q4 margins by 100 bps. They have bagged 5-year deal from US Consumer Electronics Co.
Resource - Indiaearnings.com
Margin went down a bit at 24.3% versus 24.6% QoQ. Global IT services operating margin declined at 21% versus 24% YoY.
BPO services revenue increased at Rs 322 crore in fourth quarter as against Rs 264 crore in previous quarter. The company added net 2,290 employees and 29 IT clients in the quarter ended March 2008.For FY08, it has reported consolidated net profit of Rs 3,282.90 crore and net sales of Rs 20,019.50 crore.Girish Paranjpe, Suresh Vaswani have appointed Joint-CEO of IT business.
According to CNBC-TV18 estimates, Wipro was likely to post net profit of Rs 872 crore and net sales of Rs 5,628.5 crore.
Guidance Q1
The company is expecting combined IT services revenues at USD 1060 million as against USD 1031.5 million in Q4 and Global IT revenue seen at USD 988 million.Chairman and Managing Director of Wipro, Azim Premji says that they are cautious due to uncertainty in environment. Wipro CFO says onsite wage hike has hit Q4 margins by 100 bps. They have bagged 5-year deal from US Consumer Electronics Co.
Resource - Indiaearnings.com
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