Wipro net up 58% in 04-05

BANGALORE: Industry bellwether Wipro Limited posted 58 percent increase in net profits at Rs 1629 crore for fiscal 2004-05. Revenue for the year stood at Rs 8170 crore, an increase of 39 percent YoY.

Wipro Technologies, the global IT services and products division posted revenues of Rs 6075.3 crore for the fiscal ended March 31, 2005, registering a growth of 39 percent compared to Rs 4357.5 crore the previous fiscal.

Wipro Infotech (India & AsiaPac IT Services and Products) posted a 43 percent increase in revenues at Rs 1396.4 crore for fiscal 2005, compared to Rs 976.2 crore.

Profit before tax for Wipro Technologies stood at Rs 1604.1 crore, up 68 percent compared to Rs 953.9 crore the previous fiscal. Wipro Infotech posted PBT of Rs 104.2 crore, a 32 percent growth YOY, compared to the previous Rs 79.2 crore in 2004.

For the quarter ended March 31, 2005, Global IT Services & Products grew its Revenue to Rs 1641 crore and PBIT increased to Rs 415 crore. For the quarter ended March 31, 200 5, Wipro Infotech recorded revenues of Rs 484 crore and PBIT of Rs 41.5 crore.

The Board of Directors recommended a cash dividend of Rs five per share/ADS on existing paid-up capital (equivalent of Rs. 2.5 per share on the expanded capital).

Global IT Services and Products accounted for 71 percent of the revenue and 86 percent of the PBIT for the quarter ended March 31, 2005.