Wipro Q3 Results 2010 – Highlights of the Wipro Results for Third Quarter Ended December 31, 2010 on January 21, 2011

Posted on Jan 21, 2011

Wipro Limited has been announced the Wipro Q3 Results 2010 and Highlights of the Wipro Results for Third Quarter Ended December 31, 2010 on January 21, 2011. These Wipro Limited Results for Third Quarter Ended Dec 31, 2010 will be available in the Investors section of the company’s website at www.wipro.com. Get here more detailed information regarding Highlights of the Wipro Results for Third Quarter Ended Dec 31, 2010, Stock market and Highlights of Wipro Q3 Results 2010 from below.

India’s third largest IT company, Wipro, has beaten its arch rival Infosys by posting quarterly profit ahead of analysts’ estimates. The company, which for almost fifth straight quarter has beaten analysts forecasts, posted first-quarter net profit 31% up over last year at Rs 13.19 billion, surpassing a forecast of 12.06 billion rupees in a Dow Jones Newswires poll.

Chairman Azim Premji said, Our Operating Income to Revenue for this segment was 22.2% for the quarter ended December 31, 2010. We had 119,491 employees as of December 31, 2010, an increase of 3,591 people this quarter. Wipro continues to move the business mix towards transformation business helping clients deliver better business outcomes.

Wipro won a large deal to provide next generation managed services to Pitney Bowes. The deal is an
integrated applications and infrastructure contract that leverages Wipro’s award winning integrated service management platform – Cigma – that allows for better measurement of business KPI.

Highlights of the Wipro Results for Third Quarter Ended Dec 31, 2010:

IT Services Revenue in dollar terms was $1,344 million, a sequential increase of 5.6% and YoY
increase of 19.3%. Non-GAAP constant currency revenue was $1325 million.
IT Services Revenues were `59.49 billion ($1,328 million1), representing an increase of 15% over the same period last year.
Total Revenues were `78.29 billion ($1.75 billion1), representing an increase of 12% over the same
period last year.
Net Income was `13.19 billion ($294 million1), representing an increase of 10% over the same period last year.
Non-GAAP Adjusted Net Income (excluding impact of accelerated amortization of stock based
compensation) was `13.09 billion ($292 million1), representing an increase of 9% over the same period last year.
IT Services Earnings Before Interest and Tax (EBIT) was `13.21 billion ($295 million1), representing an increase of 8% over the same period last year.
IT Services added 36 new clients in the quarter.
Net addition of 3,591 employees in the current quarter.
Consumer Care and Lighting Revenue grew 21% over the same period last year and EBIT grew 14%.
Wipro declares an interim dividend of `2 ($0.041) per share /ADS.