Wipro has announced its financial results for the first quarter ended June 30, 2013 under International Financial Reporting Standards (IFRS). In this first quarter, the company has received revenues of Rs.97.35 billion ($1.64 billion), showing an increase of 5% YoY from its continuing operations. The net income from continuing operations was Rs.16.23 billion ($273 million) in this quarter. The IT services revenue showed a sequential increase of 0.2% and 4.9% increase YoY with $1,588.3 million. Operating Income to Revenue for IT Services was 20.0% for the quarter.
Azim Premji, Chairman, Wipro, said, “We are seeing higher confidence among our clients on the backdrop of positive macroeconomic developments, particularly in the US.
Suresh Senapaty, Executive Director & CFO, Wipro, said, “Our investments in client mining have shown benefits with strong growth in our top clients. We have given wage hikes for both onsite and offshore employees effective June 2013, which has impacted our operating margins in the quarter.
Outlook result for the quarter ending September 30, 2013 showed details that the IT services segment has gone up with an increase of 1,469 employees as of June 30, 2013. Wipro added 28 new customers for the quarter. The company won a multi-year, multi-million dollar contract with an APAC-based telecom service provider, to provide big data-based analytics solutions to enable business transformation.
Wipro’s IT Products segment recorded Revenue of Rs.8.17 billion ($137 million) for the quarter, a YoY decrease of 14%. Operating Income to Revenue for this segment was 2% and EBIT was Rs.131 million ($2 million) for the quarter.
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