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Paramita Bannerjee
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Paramita Bannerjee has nearly 13 years of experience in the Indian Stock Markets. Her online journals cover a wide variety of topics from legal updates, business acquisitions company announcements to the latest corporate results as well as stock market news and the economy. Paramita is a Lawyer... More
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  • Wipro Q1 Net Up 7.7% YoY; Stock Tanks

    India's third largest software services provider Wipro 's consolidated net profit for the fourth quarter rose 7.7% year-on-year to Rs 1,481 crore, in-line with market expectations. However, shares plunged over 7% on opening on Wednesday after the street was disappointed with its weak volume growth in Jan-March and muted guidance for the first quarter.

    The Bangalore-based company expects revenue from IT services in April-June will be in USD 1.52-1.55 billion range, just about 0.6% higher than that in Jan-March at the top end.

    In the fourth quarter, Wipro's consolidated net sales were up 19% from a year ago to Rs 9,836.3 crore.

    On a sequential basis, Wipro's net profit was up 1.7%, while revenue fell 0.5%.Volume growth in IT services was also muted at 0.9% quarter-on-quarter.

    In the fourth quarter, the company's revenue from IT services rose 9.7% from a year ago and 2% sequentially to USD 1.54 billion.

    The company added 13,535 employees in the last fiscal year, and as of March 31, the IT services segment had 1,35,920 employees.

    Wipro added 41 new customers in the fourth quarter and 173 during the year.

    India's top IT company Tata Consultancy Services on Monday reported a 23% year-on-year rise in consolidated net profit at Rs 2,932.4 crore, while total income was up 30.5% year-on-year to Rs 13,259.3 crore in Jan-March.

    Number two player Infosys had reported a 27% year-on-year growth in net profit. It has guided for 8-10% US dollar revenue growth in fiscal 2013. For the first quarter Infosys has forecast a revenue growth of 6-7.1% year-on-year and 0-1% sequentially.

    Meanwhile, among Wipro's other segments, IT products revenue was up 3% from a year ago to 937 crore. Consumer Care and Lighting Business revenue rose 25% year-on-year to Rs 907 crore in Jan-March.

    At 9:55 hrs, Wipro shares were down 6.6% at Rs 412.80 on NSE.


    Tags: IT Sector, Wipro
    Apr 25 3:27 AM | Link | Comment!
  • Wipro Q4 Profit Up 7.7 Pct, Meets Forecast

    Wipro, India's No. 3 software services exporter, reported a 7.7% rise in quarterly net profit, roughly in line with analysts expectations, as its cost-conscious customers bumped up demand.

    Consolidated net profit rose to Rs 1,481 crore for the fiscal fourth-quarter ended March 31 from Rs 1,375 crore a year earlier for the company, which counts Citigroup Inc and Telenor ASA among its clients.

    Wipro's billionaire Chairman Azim Premji named T.K. Kurien as IT Services CEO, replacing two co-CEOs, last year to reverse the widening gap between the company and its larger rivals Tata Consultancy Services and Infosys .

    Sector leader Tata Consultancy on Monday met estimates with a 23% rise in quarterly net profit, while No. 2 software exporter Infosys dampened investor sentiment with a worse-than-expected revenue growth forecast for the current fiscal year.

    India's USD 100 billion export-driven outsourcing sector faces a challenging year due to growing competition, an uncertain global economy and rising US rhetoric against shipping of jobs to low-cost locations.


    Tags: IT Sector, Wipro
    Apr 25 3:23 AM | Link | Comment!
  • Wipro Q4 Cons Revenues Likely To Grow 2.7% To Rs 10,157 Cr

    Software services provider Wipro is set to declare its fourth quarter numbers on Wednesday. Market expectations are that the company reports a growth of just 1% QoQ in its consolidated profit after tax of Rs 1,471 crore for the fourth quarter of FY12.

    Earnings before interest and tax (EBIT) is expected to be at Rs 1,695 crore versus Rs 1,723.9 crore and EBIT margin is seen falling at 16.7% versus 17.5% during the same period.

    Consolidated revenues are likely to grow by 2.7% to Rs 10,157 crore from Rs 9,880.8 crore quarter-on-quarter.

    Q4 IT services

    Revenues are seen going up by 2.5% to USD 1543 million from USD 1505.5 million. (Company forecasted 1-3% growth at USD 1,520-1550 million)

    Revenues are likely to go up by 1.2% QoQ to Rs 7,700 crore and EBIT is expected to be at Rs 1,590 crore versus Rs 1,582.8 crore.

    FY12 - IT services

    Revenues (in terms of dollar) are seen going up by 13.5% at USD 5928.5 million in FY12 versus USD 5220.7 million in FY11.

    In terms of rupee, revenues are expected to go up by 21.5% YoY to Rs 28,541.7 crore.

    EBIT is seen going up to Rs 5,943.6 crore from Rs 5,341 crore and EBIT margin is seen improving at 20.8% versus 22.7%.


    Tags: IT Sector, Wipro
    Apr 25 3:18 AM | Link | Comment!
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