Wipro Technologies, India's third-largest software services company, said on Wednesday its profit after tax rose 19 per cent year-on-year to Rs 274 crore (Rs 2.74 billion).
The Bangalore-based company said it's global IT services and products revenue increased 41 per cent year-on-year, at Rs 1,147 crore (Rs 11.47 billion).
Wipro said it added 24 new clients in the quarter including two in the IT enabled services business.
Commenting on the results, Azim Premji, chairman, Wipro said "Sustained volume growth coupled with stable pricing environment and operational improvements resulted in Wipro posting its highest ever quarterly profit after tax. Revenue in our global IT services business was $250 million, ahead of the guidance of $241 million. Business momentum continues to be strong."
Vivek Paul, vice chairman, Wipro, said "We continued to build a solid foundation for the future with the highest ever net addition of employees to our team in the IT services businesses on the back of multiple large customer wins.
"We witnessed double digit sequential revenue growth for the second consecutive quarter. The broad-based nature of growth 13 per cent sequential growth in technology and 10 per cent in IT business -- was particularly satisfying.
"In terms of service lines too, sequentially, BPO grew by 29 per cent, technology infrastructure services grew by 17 per cent and package implementation grew by 14 per cent, reflecting customer confidence in our ability to provide comprehensive solutions and our deepening domain strength."
Commenting on the outlook for the quarter ending March, 2004, Premji said: "Looking ahead, for the quarter ending March 2004, we expect our revenue from our global IT services business to be approximately $269 million."
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