Wipro net up 17 percent in fourth quarter

Bangalore : Wipro Ltd posted net profit of Rs.1,729 crore (Rs.17.3 billion) for January-March quarter of fiscal 2012-13, registering 17 percent growth year-on-year (YoY) as per the Indian accounting standard.

In a regulatory filing Friday, the Indian IT bellwether said total revenue for quarter under review (Q4) increased 12 percent YoY to Rs.11,026 crore (Rs.110.3 billion).

Under the International Financial Reporting Standard (IFRS), net income rose 17 percent YoY to $317 million and total income 12 percent YoY to $2.02 billion for the quarter under review.

The company’s global IT services revenue, however, increased 13 percent YoY to Rs.8,554 crore (Rs.85.54 billion) in rupee terms and by 3.2 percent YoY to $1.59 billion, which is a 0.5 percent increase sequentially under IFRS.