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Wipro records 21% YoY growth in PAT

Last updated on: April 23, 2010 09:49 IST

IT major Wipro on Friday announced financial results under International Financial Reporting Standards for its fourth fiscal quarter and year ended March 31, 2010.

Highlights of the results:
Results for the Quarter ended March 31, 2010

Results for the year ended March 31, 2010

The Board of Directors recommends a final cash dividend of Rs. 6 per share/ADS, subject to shareholder approval at the Annual General Meeting scheduled in July 2010.

Board of Directors recommends issue of bonus shares to shareholders (including to ADS holders) in the ratio of two additional shares for every three shares held subject to shareholder approval in the Annual General Meeting scheduled in July 2010.

Azim Premji chairman of Wipro, commenting on the results said, "We have seen another strong quarter of broad based, volume led growth. We saw good recovery in our challenged verticals of Technology and Telecom. The business environment is returning to normal. For the quarter ending June 30, 2010, we expect revenues from our IT Services business to be in the range of $1,190 million to $1,215 million."

Suresh Senapaty, executive director and chief financial officer of Wipro, said, "We had a satisfying quarter. We delivered close to the upper end of our guidance with revenues of $1,180 million in constant currency. We have driven up margins by 60 basis points despite headwinds of wage increases, rupee appreciation and the impact of cross currency."