Wipro net up 31 pc in first quarter

Bangalore: Wipro Ltd posted net profit of Rs.13.19 billion (Rs.1,319 crore) for the first quarter (April-June) of this fiscal (2010-11), registering 31 percent year-on-year (YoY) growth.

In a regulatory filing Friday, the IT bellwether said its total revenue for the quarter under review (Q1) grew 16.6 percent YoY to Rs.72.36 crore (Rs.7,236 billion).

Under the International Financial Reporting Standards (IFRS), net income for the quarter is $284 million and total revenue $1.56 billion.

Revenue from its global IT services business grew 16.6 percent YoY to $1.2 billion under IFRS and Rs.55 billion in rupee terms.