Wipro sales up 28% for nine-month period

By : |January 29, 2000 0

BANGALORE: Wipro Ltd. has recorded sales and other income of Rs 1,562 crore
for the nine-month period ending December 1999, up by 28 per cent over the
corresponding period in 1998-99. Profit after tax, before a non-recurring
charge, was Rs 203 crore, up by 118 per cent from Rs 93.1 crore over the last
corresponding period.

Wipro Technologies sales and other income upto Q3 grew by 62 per cent to Rs
706 crore. Profit before interest and tax (operating margin) was at Rs 193.4
crore, a growth of 61 per cent over the corresponding period in 1998-99. Wipro’s
Software business was the first global Software service provider to be assessed
at SEI Level 5, the highest level of Quality certification.

Wipro’s Global R&D and Telecom Solutions Divisions contributed 46 per
cent of the software revenue, of which 65 per cent comprised services to Telecom
/ Datacom companies. The balance 54 per cent of software revenue saw the
electronic commerce division contribute 23.3 per cent for the quarter, and 16.6
per cent revenue for the nine month period ending December 99. Wipro
Technologies has added 78 new accounts that have accounted for 11 per cent of
the revenue for the nine-month period.

Wipro Infotech, the systems and services grew in sales and other income by 20
per cent to Rs 540.9 crore in the nine-month period. Profit before interest and
tax was Rs 18.4 crore. During the quarter ended December 1999, shareholders of
Wipro Ltd. and Wipro Computers Ltd (a fully owned subsidiary of Wipro Ltd.)
approved a scheme of merger between the two companies effective April 1, 1999.
The results of the company do not reflect this merger which will be incorporated
on receipt of High Court approval. Wipro Computers Ltd. achieved sales of Rs
32.8 crore (excluding sales to Wipro Ltd.) with a profit before interest and tax
of Rs 2.85 crore.

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