Wipro’s Q1 net profit up 87%

MUMBAI, JULY 29: Bangalore-based Wipro Ltd has achieved a whopping 87 per cent growth in its net profit in the first quarter of the current fiscal at Rs 25.7 crore with a 27 per cent growth in turnover at Rs 425.9 crore.

The company’s software business grew by 51 per cent at Rs 200.8 crore with a profit before interest and tax (operating margin) of Rs 50.1 crore, which was 22 per cent up over the same period last year.

Wipro’s systems and services business turned a positive operating margin for the quarter at Rs 2.1 crore from a loss of Rs 2.8 crore during the same period last year. There was 20 per cent growth in sales at Rs 131.6 crore.

Operating margin of its consumer care and lighting division grew by 48 per cent to Rs 10.5 crore, although the turnover was lower by nine per cent at Rs 70.5 crore against the same period last year.