Wipro
Financial results under International Financial Reporting Standards (IFRS) for
its first quarter
ended June 30, 2014.
Highlights
of the Results for the Quarter ended June 30, 2014:
Ø Total Revenues were Rs. 111.4 billion ($1.9 billion),
an increase of 14% YoY.
Ø Net Income was
Rs. 21.0 billion ($351 million), an increase of 30% YoY.
Ø IT Services Revenue was $1,740.2 million, a
sequential increase of 1.2% and YoY increase of 9.6%.
Ø IT Services Operating Margins was 22.8%.
Performance for the quarter ended June 30, 2014 Azim Premji, Chairman of Wipro, said, “We see a
significant rise in business confidence in developed markets as well as India. The new
government at the Centre has brought about hope and confidence in the minds of all stakeholders
through reform pronouncements with fiscal prudence. We expect greater economic activity including
investments in India.”
T K Kurien, Executive Director & Chief
Executive Officer of Wipro, said, “We continue to win large deals particularly in the application and
infrastructure space. We recently announced our largest
ever total outsourcing deal. These wins
demonstrate confidence of clients in our transformational
capabilities and re-affirm our faith in our
client engagement strategy.”
Suresh Senapaty, Executive Director & Chief
Financial Officer of Wipro, said – “We continue to
drive
operational efficiency and invest in our strategy. Operating margins for the
quarter was on
expected
lines, impacted largely due to wage hikes.”
Outlook
for the Quarter ending September 30, 2014
Expect Revenues from our IT Services business to be in the range of $ 1,770
million to $ 1,810
*
Guidance is based on the following exchange rates: GBP/USD at 1.70, Euro/USD at
1.37, AUD/USD at 0.94, USD/INR at 59.66 and
USD/CAD at 1.07
For
the convenience of the reader, the amounts in Indian rupees in this release
have been translated into United States dollars
at the noon buying rate in New York City on June 30, 2014, for cable transfers
in Indian rupees, as certified by the
Federal
Reserve Board of New York, which was US $1= `60.06. However, the realized
exchange rate in our IT Services business
segment for the quarter ended June 30, 2014 was US$1= `60.39
Ø IT Services Revenues in Rupee terms was `105.1
billion ($1,750 million1), an increase of 18% YoY.
Ø IT Services Earnings Before Interest and Tax
(EBIT) was `24.0 billion ($400 million1), an increase of 35% YoY.
Ø Non-GAAP constant currency IT Services Revenue
in dollar terms was $1,725.3 million, within guidance range of $1,715 million to $1,755
million.
The IT Services segment had 147,452 employees
as of June 30, 2014. We added 35 new customers for the quarter.
For media contact
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Account Manager
K2
Communications Pvt Ltd, Redefining PR
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Nagar, Chrompet, Chennai – 600044
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