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Wipro net profit tops estimates in Q4

IT major Wipro reported a net profit of better-than-expected net profit of Rs. 2,226.5 crore in the quarter ended March 31, 2014.

Its revenues during the quarter came in at Rs. 11,703 crore.

Analysts expected Wipro to post a net profit of Rs. 2,176 crore in the quarter.

Wipro said it expects revenues from its IT services business to be in the range of $1,715 million to $1,755 million in the first quarter.

Its IT services segment had 146,053 employees as of March 31, 2014. Wipro added 59 new customers during the quarter.

TK Kurien, executive director & chief executive officer of Wipro, said, “Our focus on process simplification, automation and platform-based delivery continues to deliver results and we are seeing the benefits through improved productivity , reduced timelines in execution and greater business agility. It is also gratifying to see that this focus has enabled improved win ratios and has also enhanced customer satisfaction.”

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