Wipro posts 28% growth; IT business show 39% rise

BANGALORE: Bangalore-based Wipro Ltd. has recorded total turnover of Rs 2.312.90 crore for the year ended March 2000, up by 28 per cent compared to the previous fiscal year. Profit after tax, before non-recurring charges, was Rs 300.60 crore, showing a rise of 77 per cent from Rs 170.20 crore over the previous year ended March 1999.

Wipro Technologies, the largest publicly listed global IT Services business in India, has recorded 65 per cent growth with revenues touching Rs 1042.00 crore. Its Global R&D and Telecom Solutions, contributed 46 per cent of the software revenue and the balance are accounted for enterprise solutions business. E- commerce contributed 15 per cent of enterprise solutions revenue for the year. Wipro Infotech, the Indian IT services and products business, which is into networking solutions, customer services, computers and peripherals, grew by 20 per cent to Rs 825.10 crore for the year ended March 2000.

Wipro's IT business (Wipro Technologies and Wipro Infotech) has contributed 80 per cent to the total revenue of the company. Its IT business has grown by 39 per cent compared to last year's 1,443.20 crore. Earning per share for the year ended March 31, 1999 has been restated on par value of Rs 2 per share, said a company release.